Taking Stock: Nifty, Sensex plunge to register 5th day of decline

Market witnesses widespread decline with frontline indices dropping 1-2%, while Midcap Index plunges by 1,000 points

India's benchmark indices took a hit, with NSE Nifty 50 dropping below 22,000 and BSE Sensex plunging over 1,000 points, both marking over a one-percent intraday fall and a fifth consecutive day of decline.

The Sensex closed 1,062 points at 72,404, and Nifty 50 was down 345 points at 21,958.

Nifty dropped below 100-day moving average since November 12 due to election uncertainties and concerns over PM Narendra Modi's expected smaller majority, pushing the benchmark down 3 percent from its record high. Weak Q4 results and rising crude prices add to the downward pressure, analysts noted.

Market witnessed widespread decline with frontline indices dropping 1-2 percent, while the midcap index plunged 1,000 points. Weakness persisted in the midcap segment, favoring declines in market breadth. Despite the overall weakness, auto stocks, particularly 2-wheelers, stood out in a weak session, bolstered by strong earnings and positive outlook from Hero Moto and TVS. However, Tata Power and UBL faced negative market reaction to Q4 results, each down by 5 percent. SBI bucked the trend, closing higher on better-than-expected results, gaining 2 percent from lows.

Except Nifty Auto, all sectors declined. Nifty Oil & Gas was the top loser, falling by 3.2 percent. Nifty Metal and FMCG indices dropped 2.9 percent and 2.5 percent, respectively. Nifty Pharma and Realty indices fell 2 percent each. Among gainers, Nifty Auto rose by 0.8 percent.

Outlook for May 10

Shrikant Chouhan, Head Equity Research, Kotak Securities

Today, the benchmark indices witnessed a sharp selloff, the Nifty ended 345  points lower while the Sensex was down by  1,062  points. Among sectors, almost all the major sectoral indices witnessed profit booking at higher levels but Energy and Metal indices lost the most shedding nearly three percent. Technically, after a muted opening market breached 22200/73200 support level and post breakdown the selling pressure intensified.

Index	Prices	Change	Change%
Sensex	82,605.43	575.45	+0.70%
Nifty 50	25,323.55	178.05	+0.71%
Nifty Bank	56,799.90	303.45	+0.54%

Nifty 50 25,323.55 178.05 (0.71%)

Wed, Oct 15, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
Nestle	1,221.40	45.90	+3.90%

Biggest Loser	Prices	Change	Change%
Tata Motors	390.85	-4.60	-1.16%

Best Sector	Prices	Change	Change%
Nifty PSU Bank	7723.10	126.60	+1.67%

Worst Sector	Prices	Change	Change%
Nifty Pharma	22057.30	18.00	+0.08%

On daily charts, the index has formed a long bearish candle, which supports further weakness from the current levels. We are of the view that the short-term market texture is weak but due to temporary oversold conditions, we could see a one technical pullback rally from the current levels. For the traders now, 22000/72550 would act as a key level to watch out. Above 22000/72550, the market could bounce back till 22100-22150/72300-72500. On the flip side, below 22000/72550 the weak sentiment is likely to continue. Below which the market could slip till 21850-21800/72100-72000.

Vinod Nair, Head of Research, Geojit Financial Services

The broader market witnessed volatility, underscoring caution on account of Q4 earnings and general election uncertainties, which led investors to stay on the sidelines. We expect the trend to continue in the short term as the market slid below the physiological level of 22,000. The global indices are trading with mixed cues ahead of the BOE policy meeting later today and US inflation figures due next week.

Prashanth Tapse, Senior VP (Research), Mehta Equities

Markets buckled under relentless selling pressure as investors turned risk averse in the ongoing poll season and further lightened their equity exposure to avoid being caught off guard. As the election season is heating up, investors are trimming their equity exposure at a faster pace, which can be seen from the drubbing that mid and small-caps received. Over the next few weeks, markets could be very volatile with mostly negative bias and we may see traders betting on select stocks, purely based on their fundamentals.

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