Sensex tanks 585 pts, Nifty below 24,600; why stock market is losing steam
At close, the BSE Sensex was down 585.67 points, or 0.72 per cent, at 80,599.91. The NSE Nifty50 declined 203 points, or 0.82 per cent, to end at 24,565.35.
- Aug 1, 2025,
- Updated Aug 1, 2025 4:13 PM IST
Domestic equity benchmarks Sensex and Nifty50 ended lower for the second consecutive session on Friday, capping their fifth straight week of losses.
The market sentiment remained under pressure amid persistent foreign institutional investor (FII) outflows and fresh global concerns following US President Donald Trump’s announcement of new tariffs.
At close, the BSE Sensex was down 585.67 points, or 0.72 per cent, at 80,599.91. The NSE Nifty50 declined 203 points, or 0.82 per cent, to end at 24,565.35. Rupak De, Senior Technical Analyst at LKP Securities, said the Nifty witnessed another sharp decline as it failed to reclaim the 200-DMA on the hourly chart, despite a strong recovery on Thursday. Throughout the day, the index remained below the 50-EMA on the hourly timeframe.
“On the daily chart, it has broken below the recent consolidation support at 24,600. Sentiment remains weak, with the potential for the correction to extend towards 24,400–24,450. A further decline is likely if it slips below 24,400; otherwise, a recovery can be expected. On the higher side, resistance is seen at 24,600–24,650 and 24,850," Rupak said.
Sun Pharma led Sensex losers, falling 4.43 per cent to Rs 1,630 apiece. Tata Steel fell 3.01 per cent, followed by Infosys (down 2.69 per cent), Maruti Suzuki (down 2.67 per cent), Tata Motors (down 2.41 per cent), and Tech Mahindra (down 1.98 per cent).
Infosys, ICICI Bank, Bharti Airtel, Sun Pharma and Larsen & Toubro emerged as the top contributors to the Sensex’s decline.
Among sectoral indices, the BSE Bankex fell 0.47 per cent, or 293.80 points, to end at 61,806.01. BSE Healthcare declined 2.44 per cent to settle at 44,265.55.
Vinod Nair, Head of Research at Geojit Investments Limited, said the Indian equity market extended its decline for a second day, pressured by renewed tariff threats and punitive duties that could undermine India’s global trade competitiveness.
“Investor sentiment weakened further as FIIs now hold the second-highest net short position in derivatives, reflecting elevated caution. Globally, markets turned negative amid rising U.S. inflation and trade tensions. While the sell-off was broad-based, FMCG stocks emerged as a defensive play, supported by attractive valuations, resilient demand, and relative immunity to external trade disruptions," Nair said
Out of 4,169 stocks that traded on the BSE today, 1,310 advanced, 2,705 declined, while 154 remained unchanged.
Domestic equity benchmarks Sensex and Nifty50 ended lower for the second consecutive session on Friday, capping their fifth straight week of losses.
The market sentiment remained under pressure amid persistent foreign institutional investor (FII) outflows and fresh global concerns following US President Donald Trump’s announcement of new tariffs.
At close, the BSE Sensex was down 585.67 points, or 0.72 per cent, at 80,599.91. The NSE Nifty50 declined 203 points, or 0.82 per cent, to end at 24,565.35. Rupak De, Senior Technical Analyst at LKP Securities, said the Nifty witnessed another sharp decline as it failed to reclaim the 200-DMA on the hourly chart, despite a strong recovery on Thursday. Throughout the day, the index remained below the 50-EMA on the hourly timeframe.
“On the daily chart, it has broken below the recent consolidation support at 24,600. Sentiment remains weak, with the potential for the correction to extend towards 24,400–24,450. A further decline is likely if it slips below 24,400; otherwise, a recovery can be expected. On the higher side, resistance is seen at 24,600–24,650 and 24,850," Rupak said.
Sun Pharma led Sensex losers, falling 4.43 per cent to Rs 1,630 apiece. Tata Steel fell 3.01 per cent, followed by Infosys (down 2.69 per cent), Maruti Suzuki (down 2.67 per cent), Tata Motors (down 2.41 per cent), and Tech Mahindra (down 1.98 per cent).
Infosys, ICICI Bank, Bharti Airtel, Sun Pharma and Larsen & Toubro emerged as the top contributors to the Sensex’s decline.
Among sectoral indices, the BSE Bankex fell 0.47 per cent, or 293.80 points, to end at 61,806.01. BSE Healthcare declined 2.44 per cent to settle at 44,265.55.
Vinod Nair, Head of Research at Geojit Investments Limited, said the Indian equity market extended its decline for a second day, pressured by renewed tariff threats and punitive duties that could undermine India’s global trade competitiveness.
“Investor sentiment weakened further as FIIs now hold the second-highest net short position in derivatives, reflecting elevated caution. Globally, markets turned negative amid rising U.S. inflation and trade tensions. While the sell-off was broad-based, FMCG stocks emerged as a defensive play, supported by attractive valuations, resilient demand, and relative immunity to external trade disruptions," Nair said
Out of 4,169 stocks that traded on the BSE today, 1,310 advanced, 2,705 declined, while 154 remained unchanged.