Stock Market Updates: Sensex Drops 600 Points, Nifty Below 25,000; Axis Bank Dips 5%, Wipro Soars 3%

Market Rollercoaster: Sensex Plunges, Nifty Wobbles, and Big Movers Shake Things Up

Friday's Indian stock market opened with a dramatic dip, leaving investors reeling as Q1FY26 earnings reports and looming trade tensions took their toll. The day's trading saw a significant shakeup, with some companies soaring while others plummeted.

Sensex and Nifty Take a Hit

By 11:00 AM, the BSE Sensex had shed 516 points (0.63%), settling at 81,743.42, while the Nifty50 dipped 152 points (0.16%) to 24,961. The market's anxieties were fueled by speculation of potential US tariffs on Indian goods, adding to the pressure from mixed earnings reports.

Winners and Losers: A Tale of Two Markets

• Axis Bank's disappointing quarterly results sent its shares tumbling a significant 5%, becoming a major drag on both benchmark indices.
• Other notable laggards included Kotak Bank, Bharti Airtel, BEL, and Tech Mahindra, contributing to the overall bearish sentiment.
• In contrast, Wipro bucked the trend, soaring 3%. Other bright spots included Tata Steel, Bajaj Finance, and Infosys, offering some much-needed stability.
• The broader markets mirrored the negative trend, with the Nifty MidCap and SmallCap indices falling 0.63% and 0.7%, respectively.
• Sectoral performance was equally diverse. The Nifty Metal index showed marginal gains (0.01%), while the Nifty Private Bank index experienced a 1% decline.

Global Markets: A Mixed Bag

Global markets presented a mixed picture. While Wall Street celebrated robust economic data and strong earnings, with the S&P 500, Dow Jones, and Nasdaq Composite all posting gains, Asian markets showed more variability. Australia's ASX 200 hit a record high, while Japan's Nikkei and South Korea's Kospi experienced declines.

Wall Street's surge was driven by positive US retail sales figures (up 0.6% month-on-month) and a drop in weekly jobless claims to their lowest level since April. This positive momentum contrasted sharply with the more subdued performance in certain Asian markets.

Japan's Inflation Eases, But Underlying Pressures Remain

Japan's latest inflation data revealed a slight easing of price pressures, but underlying concerns persist. While headline and core inflation both cooled to 3.3%, the BOJ's preferred core-core inflation measure (excluding volatile food and energy) rose to 3.4%, indicating that underlying inflationary pressures remain.

Overall, the market's future trajectory remains uncertain. With a data-heavy week ahead and the ongoing impact of Q1 earnings reports, investors are advised to proceed with caution, focusing on stock-specific analysis.

About the Author: Aparna Deb is a Subeditor at News18.com, specializing in business news. Her keen eye for detail and passion for financial markets provide valuable insight into the ever-evolving world of economics.