ET Market Watch: Sensex falls 148 points, Nifty falls below 25,550 as profit booking hits financial, metal stocks | The Economic Times Podcast

Hello and welcome to ET Market Watch, your daily snapshot of market sentiment and the stories that move your money. I’m Neha Vashishth from The Economic Times.Indian markets took a breather today, ending lower for the second straight session as investors took a break from October’s sharp rally. Losses in financial and metal stocks pushed benchmarks lower.

The Sensex fell 148 points to close at 83,311, while the Nifty ended below 25,550, down nearly 88 points.

Among the major gainers, Power Grid, Bajaj Finance, BEL and ICICI Bank were the biggest laggards, each down between 1% and 3%.
On the other hand, Reliance climbed 1.6%, breaking its four-day losing streak.

Grasim Industries was the Nifty’s biggest loser, falling over 6% after the CEO of its paint unit resigned to join Britannia. However, rival Asian Paints rose almost 5% after Nomura upgraded it to buy.

Adani Enterprises continued its decline, falling another 4.4% after a weak second quarter.
Meanwhile, the midcap and smallcap indices saw heavier selling, down 1% and 1.4% respectively.

Market experts say volatility prevailed, with gains across all sectors despite strong signals from Asia. Foreign fund outflows and weak domestic PMI data also dampened sentiment.

Globally, European shares fell even as Asian markets recovered, with Japan’s Nikkei up 1.4% and Hong Kong’s Hang Seng up 2.1%.

On the commodities front, Brent crude rose 1% to around $64 per barrel, while the rupee was steady at 88.61 per dollar.

That’s all for today’s market turn.
This is Neha Vashishth, and you are listening to ET Market Watch. Stay tuned for more updates and expert insights, only on The Economic Times.