Sensex Slips Below 79,000, Nifty Tests 24k: Why Stock Market Is Falling Today

On a day major world markets were up complete 1 per cent, a crisp information of profit booking took Dalal Street investors by astonishment connected Friday, sending benchmark banal indices Sensex and Nifty beneath cardinal psychological levels. Technical charts were already hinting astatine indecisiveness among nan bulls and nan bears; and tepid quarterly net and rising tensions betwixt India and Pakistan pursuing nan Pahalgam panic onslaught apt impacted investor sentiment, prompting profit booking aft 7 sessions of gains retired of nan past eight.

The BSE Sensex concisely dipped beneath nan 79,000 people earlier recovering somewhat to waste and acquisition astatine 79,054.95, still down 746.48 points aliases 0.94 per cent. Meanwhile, nan Nifty was trading astatine 24,011.90, down 234.80 points aliases 0.97 per cent.

Despite a seasonally beardown quarter, Q4 net statement EPS maturation expectations are conscionable 8 per cent YoY, said InCred Equities adding that location is nary respite successful EPS downgrade inclination yet.

"The imaginable headwind looming ample connected nan sky is nan uncertainty regarding India’s consequence to nan panic onslaught and its consequences," said  VK Vijayakumar, Chief Investment Strategist, Geojit Investments.

The BSE Sensex is still up 5,207 points aliases 7 per cent since April 9. Nifty has soared conscionable complete 1,600 points aliases 7.2 per cent during nan aforesaid period. On method side, an Inside Body candle statement connected nan regular floor plan connected Thursday was indicating indecisiveness betwixt nan bulls and nan bears.

"We judge nan short-term market structure is bullish, but a caller uptrend is imaginable only aft nan dismissal of nan 24,400/80,300 guidance area connected Nifty/Sensex.  On nan different hand, if the market drops beneath 24,200/79,600, we whitethorn spot a speedy intraday correction to 24,100/79,300. The diminution whitethorn proceed further, which whitethorn resistance the market to 24,000/79,000," Kotak Securities said earlier today. 

On Friday, Axis Bank fell 3.68 per cent to Rs 1,162.90. Axis Bank registered comparatively slower deposits growth, prioritising value and pricing, ICICI Securities said. This brokerage maintained 'Buy' connected nan banal connected inexpensive valuations.

Earlier, nan US Treasury Secretary Scot Bessent’s suggested that India was expected to onslaught nan first bilateral waste and acquisition woody pinch nan US. 

The US besides is keen to onslaught arsenic galore deals arsenic imaginable since China’s consequence to US initiatives has been indifferent, Vijayakumar noted.

Adani Ports, Bajaj Finance, Bajaj Finserv, Power Grid, NTPC and Tech Mahindra (TechM) tanked complete 2 per cent each. TechM's turnaround is underway, Nomura India said adding that it sees nan IT patient making dependable advancement towards medium-term goals.

Published on: Apr 25, 2025 10:29 AM IST