Sensex Falls 150+ Points, Nifty Slips Below 25,400; Adani Shares Surge

Sensex Opens Lower, Nifty Below 25,400; Adani Stocks Support Market.

Benchmark indices opened lower on Friday, led by losses in IT stocks, while gains in Adani group shares helped limit the decline. The S&P BSE Sensex fell 260.39 points to 82,753.5, and the NSE Nifty50 dropped 56.95 points to 25,366.65 by 9:29 am.

Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments, said the market is on an uptrend and positioned to set new records.
“Fundamentals, technicals, and sentiment support a steady uptrend. Earnings are expected to improve from Q3 onwards. Technically, the market is favorable for a move higher as short-covering accelerates,” he added.

At the opening, Adani Ports led the gains, up 1.6%, followed by Bharat Electronics (+0.66%), Maruti Suzuki (+0.29%), Larsen & Toubro (+0.27%), and NTPC (+0.15%).

On the losing side, TCS fell 1%, HCL Technologies dropped 0.98%, Infosys slipped 0.74%, Power Grid declined 0.73%, and UltraTech Cement lost 0.72%.

After the bell, the Nifty Midcap100 rose 0.19%, while the Nifty Smallcap100 gained 0.10%. The India VIX increased 1.44%, reflecting higher volatility.

Sectoral trends:

Gainers: Nifty PSU Bank (+0.48%), Nifty Oil & Gas (+0.37%), Nifty Pharma (+0.16%), Nifty Media (+0.08%), Nifty Metal (+0.04%), Nifty Realty (+0.10%)

Losers: Nifty IT (-0.68%), Nifty Private Bank (-0.43%), Nifty FMCG (-0.28%), Nifty Financial Services (-0.16%), Nifty Consumer Durables (-0.20%), Nifty Healthcare (-0.05%), Nifty Auto (-0.10%)

Vijayakumar noted positive market sentiment due to reports of a US-India trade deal with reduced reciprocal tariffs. He added that foreign institutional investors have reduced selling and turned marginally net buyers, keeping the advantage with bulls.