By Anupama Ghosh

Copyright thehindubusinessline

Markets continued their downward trajectory for the seventh consecutive session during Thursday’s midday trade, with the Sensex declining 319.88 points or 0.39 per cent to 80,839.80 and the Nifty 50 dropping 106.60 points or 0.43 per cent to 24,784.25.

The selling pressure persisted from Wednesday’s session when markets had closed lower by over 0.40 per cent each, extending the losing streak that began last week. Foreign institutional investors maintained their selling spree, having offloaded equities worth ₹4,995 crore on September 25, pushing the monthly outflow tally to ₹24,454 crore.

Pharmaceutical stocks faced intense pressure following the Trump administration’s decision to impose 100 per cent tariffs on branded pharmaceutical imports from October 1. Sun Pharma emerged as the top loser on the Nifty 50, declining 2.91 per cent to ₹1,580.00 from its previous close of ₹1,627.40.

Information technology counters also witnessed heavy selling amid concerns over steep hikes in H-1B visa fees. Wipro dropped 2.04 per cent to ₹237.07, while Tech Mahindra fell 2.01 per cent to ₹1,415.30. The sector’s weakness reflected investor anxiety over potential policy changes affecting Indian IT companies’ operations in the United States.

Banking stocks contributed to the overall market decline, with IndusInd Bank falling 2.73 per cent to ₹720.50. The Nifty Bank index was down 370.25 points or 0.67 per cent to 54,605.75, remaining under pressure below the 55,000 level.

Mahindra & Mahindra bucked the auto sector trend, declining 2.68 per cent to ₹3,435.50, contrasting with gains seen in other automotive stocks.

Automotive stocks provided the primary support to markets, with Larsen & Toubro leading gains with a 3.46 per cent jump to ₹3,770.40. Tata Motors advanced 2.09 per cent to ₹678.20, while Eicher Motors gained 1.40 per cent to ₹7,083.50. Hero MotoCorp rose 1.03 per cent to ₹5,409.50, reflecting positive sentiment in the two-wheeler segment.

ITC also contributed to the gainers’ list, rising 1.30 per cent to ₹405.30, providing some cushion to the FMCG sector.

Market breadth remained weak with 2,920 stocks declining against 1,047 advancing on the BSE. The volatility index India VIX remained elevated, reflecting continued uncertainty among market participants.

Broader market indices underperformed the benchmarks, with the Nifty Midcap 100 declining 1.28 per cent to 56,839.20 and the Nifty Next 50 falling 1.06 per cent to 67,567.25. The Nifty Financial Services index dropped 0.57 per cent to 26,097.60.

A total of 4,131 stocks were traded on the BSE, with 109 stocks hitting 52-week highs while 124 touched 52-week lows. Additionally, 151 stocks were locked in the upper circuit while 165 hit the lower circuit.

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Published on September 26, 2025