Nifty 50 Slips Further, Down 0.5% Amid Profit-Taking

The Indian equity markets witnessed another day of weakness as the Nifty 50 index slipped 0.5%, extending its losing streak. The decline was largely attributed to profit-taking in IT and telecom stocks, offsetting optimism from strong corporate earnings and progress in trade discussions.

At mid-session, the Sensex was down 0.21% at 83,134 points, while the Nifty 50 fell to 25,454 points. Market experts noted that retail investors continued to buy, but foreign institutional investors (FIIs) remained net sellers, adding pressure to the indices.

Key Highlights

• Index Performance: Nifty 50 down 0.5%, Sensex lower by 0.21%.
• Sectoral Trends: IT firms (HCLTech, Tech Mahindra, TCS) and Bharti Airtel among top losers.
• Gainers: ICICI Bank and ITC provided limited support.
• Investor Activity: Retail investors buying, FIIs selling.
• Weekly Trend: Both Sensex and Nifty have fallen ~1.5% this week after October’s 4.5% rally.
• Market Sentiment: Caution prevails amid global uncertainties and profit-booking.

Sources: Hindustan Times Business, Economic Times, Financial Express