The indian stock market showed a down-trend today following its strongest week-long rally since mid-2024. The Nifty-50 dropped to 24‚617.9 points while BSE Sensex moved down to 81‚542.95 (both showing about quarter-percent decline)
The markets previous up-move came after Reserve Bank of India changed its policy on bankʼs cash holdings which made things easier for money flow. “The RBIʼs steps on friday and foreign money coming in helped but we still need to watch company profits and economy numbers“ [[Krishna Appala from Capitalmind Research noted]]
Consumer sector stocks took the biggest hit — all fifteen companies in this group went down. Godrej Consumer Products fell more than 10% after saying its doing badly this quarter; other big names like Hindustan Unilever and Tata Consumer also went south
Some companies had their own stories: Star Health dropped 3.2% cos of problems with rules; but Ceat jumped up 8% after saying its buying Michelinʼs Camso for $225-mil. Larsen & Toubro got good news from court and went up 2%
The small-and-medium sized companies didnt follow the main market trend: they actually went up by 0.2% and 0.4%. Traders think markets will move slow until new info comes about prices in US and India this week