Benchmark Indices decline while Nifty Smallcap plummets over 2 per cent!

Market  Update at 4:10 PM: Indian equity markets closed the week on a weak note, with both Nifty and Sensex falling over 0.85 per cent amid widespread selling pressure. On Friday, July 25, the Nifty 50 dropped 225 points (0.9 per cent) to close at 24,837, while the Sensex declined 721 points (0.88 per cent) to settle at 81,463. The sharp declines were primarily led by heavyweights like Infosys and ICICI Bank.

Investor sentiment remained subdued through the week, with key indices dragged down by declines in auto, IT, and energy sectors. The recently signed trade deal with the UK—targeting tariff cuts on textiles, automobiles, and whisky—also remained in focus.

Sector-wise, only one out of the 11 major sectors ended in green. IT and Realty sectors led the fall for the week, both slipping nearly 4 per cent. Broader markets were hit harder, as the Midcap index declined 1.61 per cent and the Smallcap index fell 2.1 per cent, reflecting broader market weakness.

On the stock-specific front, ITC gained attention after Chairman Sanjiv Puri announced a Rs 20,000 crore medium-term investment plan across business verticals. Bharat Electronics Ltd (BEL) received a Rs 1,640 crore order from the Indian Army, boosting its outlook. Shares of Kellton Tech surged nearly 20 per cent on Friday as the stock turned ex-split, with its face value revised from Rs 5 to Rs 1 per share in a 1:5 ratio.

The Nifty Pharma index was the only gainer of the day, closing 0.54 per cent higher. Cipla and Torrent Pharma led the pack, whereas the Nifty Media index declined by 2.61 per cent, with Zee Entertainment and DishTV among top laggards.

Cipla, SBI Life, and Apollo Hospitals were the top contributors to Nifty gains, adding 6.76, 4.86, and 3.01 points, respectively. Conversely, Infosys (-37.77 points), ICICI Bank (-12.29), and HDFC Bank (-11.81) were the biggest drags on the index.

Market breadth clearly favoured the bears. Out of 3,025 stocks traded on the NSE, 2,352 ended in the red, while only 588 advanced and 85 remained unchanged. Additionally, 42 stocks hit 52-week highs, while 36 touched 52-week lows. There were 47 stocks locked in upper circuits and 71 in lower circuits, reflecting sharp intraday volatility.