Stock Market Continues Slide; Sensex Drops

Mumbai : The domestic stock market continued its downward trend for the second consecutive day as key indices opened in the red zone. The Sensex dropped sharply by nearly 195 points, settling at 81,179.10, while the Nifty slipped by over 62 points to close at 24,654.25. The bearish sentiment was evident across major sectors with selling pressure intensifying from the beginning of the trading session. Investors remained cautious amid global economic uncertainties, concerns over inflation, and mixed corporate earnings reports. The market volatility was further fueled by weak cues from global markets as fears of slowing growth and tightening monetary policies continued to weigh on investor confidence. Banking, IT, and energy stocks saw significant selling pressure contributing to the decline in the indices. Analysts believe that the current correction is a part of market consolidation after recent highs, advising investors to remain cautious while looking for buying opportunities in fundamentally strong stocks. Foreign institutional investors (FIIs) were net sellers, adding to the negative momentum in the markets. Market experts suggest monitoring key support levels in the coming sessions to gauge the trend direction. Despite the current downturn, some sectors showed resilience with selective buying seen in pharmaceuticals and consumer goods stocks. Market participants are closely watching upcoming macroeconomic data and corporate results that could influence the market sentiment. Traders are also awaiting any announcements from the government or the Reserve Bank of India that might help stabilize the market. The overall market mood remains cautious as geopolitical tensions and global economic challenges persist. Investors are advised to diversify portfolios and avoid panic selling in such volatile conditions. The markets are expected to remain volatile in the near term until clearer signals emerge from the economic front. This dip offers an opportunity for long-term investors to accumulate quality stocks at lower valuations. However, short-term traders should exercise prudence and follow strict risk management strategies. The stock market’s performance will depend on the interplay of domestic factors and global developments in the coming days.