Stock markets fall for second straight session as selling in Reliance Industries and HDFC Bank weighs on sentiment
Indian equity markets extended losses for a second straight session as sustained selling in heavyweight stocks like Reliance Industries and HDFC Bank weighed heavily on investor sentiment. Weak global cues and cautious positioning ahead of key economic signals added to the pressure on benchmark indices.
Domestic stock markets closed lower for the second consecutive day, with benchmark indices slipping as selling pressure intensified in select index heavyweights. Shares of Reliance Industries and HDFC Bank emerged as major drags, offsetting gains seen in a few other sectors.
Market participants remained cautious amid mixed global signals and uncertainty over near term economic indicators. Persistent foreign fund outflows and profit booking in large cap stocks contributed to the subdued mood. Analysts said investors preferred to stay on the sidelines, waiting for clearer cues before making fresh commitments.
Reliance Industries saw selling pressure as investors reassessed valuations and near term earnings visibility. Given its significant weight in benchmark indices, the stock’s decline had a disproportionate impact on overall market movement. HDFC Bank shares also remained under pressure, reflecting concerns around margin outlook and broader banking sector trends.
Broader markets showed mixed performance. While some defensive sectors offered limited support, metal and energy stocks faced selling amid global commodity price volatility. Mid cap and small cap shares also saw mild weakness, indicating cautious sentiment across market segments.
Traders noted that market breadth remained slightly negative, suggesting that declines were not restricted to a few stocks alone. Volatility remained contained, but sentiment was clearly tilted toward risk aversion.
Experts said the near term direction of the market will depend on global developments, including cues from international markets, interest rate expectations and foreign investor activity. Domestic factors such as corporate earnings updates and macroeconomic data will also play a key role in shaping sentiment.
Despite the recent decline, market participants remain optimistic about India’s long term growth story. However, in the short term, analysts expect markets to remain range bound with stock specific action until clearer triggers emerge.
The second day of losses underscores the fragile nature of sentiment, especially when heavyweight stocks come under pressure. Investors are advised to remain cautious and focus on fundamentally strong companies while navigating near term volatility.
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