Stock Market Today:The Indian stock market had a tough Thursday, and if your portfolio’s looking a little red, you’re definitely not the only one.
The Sensex nosedived 630.98 points, or 0.76%, hitting an intraday low of 81,628.26. Meanwhile, the Nifty wasn’t spared either, slipping 186.2 points or 0.74% to close at 24,925.25.
What’s behind the tumble? A mix of earnings disappointments, nervous foreign investors, and global jitters.
Big names like Axis Bank, SBI Life, Shriram Finance, HDFC Life, and Kotak Mahindra Bank took a beating, with some stocks dropping as much as 6%. Axis Bank’s earnings miss was a major culprit, dragging the Nifty Bank index down over 1%, with 11 out of 12 banks in the red. If that wasn’t enough, FIIs pulled out nearly Rs 3,700 crore, adding pressure. On top of that, weak signals from Japan and South Korea kept global sentiment low. Oh, and did we mention India VIX jumped 4%? Volatility is officially back.
Quick Snapshot
| Factor | Impact |
|---|---|
| Axis Bank Earnings | Shares down 6%, missed profit expectations |
| FII Selling | Rs 3,694 crore outflow |
| Global Cues | Asian markets trading negative |
| Large-cap IT Earnings | TCS, HCLTech disappoint |
| India VIX | Up 4% at 11.62, shows rising volatility |
Here Are The Key Take Away From Todays Market
Market Feels The Heat From Axis Bank’s Miss
- Axis Bank drops 6% after posting a 3% fall in consolidated net profit to Rs 6,243.72 crore for Q1.
- The miss was due to changes in NPA classification and loan upgrade policies.
- “Axis Bank’s numbers missed expectations. Its GDR fell 4.8 percent to USD 64.30 on Thursday, reflecting deterioration in asset quality,” said Devarsh Vakil, HDFC Securities.
- The weak result dragged the Nifty Bank index down over 1%, with 11 of 12 banking stocks in the red.
- Disappointment in Axis Bank’s earnings added to broader market anxiety, already shaken by low earnings momentum.
Market Stumbles As FIIs Exit, Volatility Jumps
- FIIs pulled out Rs 3,694.31 crore worth of equities on Thursday, continuing their July sell-off.
- “India has underperformed global peers so far this month… they have resumed selling in July,” said VK Vijayakumar, Geojit Financial Services.
- The sell-off hit multiple sectors, deepening the red triggered by weak corporate earnings.
- India VIX rose nearly 4% to 11.62, indicating higher fear and market volatility.
- As FII outflows rise and domestic liquidity remains tight, volatility is likely to stay elevated.
Market Eyes Support Levels As Nifty Tests Key Zones
- The Nifty slid to 25,120–25,090, a crucial technical support area.
- “A direct fall below 24,920 could open the door for further downsides,” noted Anand James, Geojit Financial Services.
- On the upside, resistance is expected around 25,150–25,265.
- Traders remain cautious amid rising VIX and continued FII outflows.
- Nifty must hold above 24,920 to avoid deeper correction; otherwise, more volatility could follow.
Buckle Up, Volatility Is Back
So, all market enthusiasts are advised to tighten their seatbelts, because while the Friday weekend tunes up for Monday morning, Saturday and Sunday can’t do much to move the markets. However, any big development over the weekend can definitely swing the mood of the market and investors. That’s just how the stock market works.
Until 4 PM today, the market mood can switch at any moment, but recovering from such a big Humpty Dumpty fall may take a little time. Traders and market watchers are advised not to panic, and definitely not to pull out.
This is the best time to stay put, wherever you are. Swim through the red to reach the green! The tactic is simple: stay calm when the world is pulling out.
It was one of those days when the market just wouldn’t catch a break. From Axis Bank’s earnings miss to foreign investors pulling out nearly Rs 3,700 crore, the pressure came from all directions. Add in shaky global cues and a spike in India VIX, and you’ve got a recipe for a wobbly trading day. With the Nifty hovering near key support, the next few sessions could go either way. For now, it’s a wait-and-watch game. If you’re investing, tighten your seatbelt—this ride may stay bumpy until the earnings and global winds settle.
Aishwarya is a journalism graduate with over three years of experience thriving in the buzzing corporate media world. She’s got a knack for decoding business news, tracking the twists and turns of the stock market, covering the masala of the entertainment world, and sometimes her stories come with just the right sprinkle of political commentary. She has worked with several organizations, interned at ZEE and gained professional skills at TV9 and News24, And now is learning and writing at NewsX, she’s no stranger to the newsroom hustle. Her storytelling style is fast-paced, creative, and perfectly tailored to connect with both the platform and its audience. Moto: Approaching every story from the reader’s point of view, backing up her insights with solid facts.
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