Sensex erases morning gains, Nifty tumbles under 25,500; PSU banks, realty stocks lag

Nifty Realty was the top sectoral loser in the afternoon session.

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26 Aug, 2025 12:21

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Dalal Street wiped off all its morning gains in trade on Wednesday, July 2, after opening mildly in the green, as investors booked profits. The Sensex was mildly lower, while the bulls and bears staged a tough fight at the 25,500 level on the Nifty 50.

At 11:25 a.m., the Sensex was down 166.00 points or 0.20 percent at 83,531.29, and the Nifty was down 56.80 points or 0.22 percent at 25,485.00. About 1,399 shares advanced, 1,927 shares declined, and 158 shares unchanged.

Sectoral trends were mixed, reflecting a cautious market mood. Nifty Metal led the gains with a 0.8 percent rise, followed by modest upticks in Nifty IT (0.3 percent), Pharma (0.3 percent), and Auto (0.2 percent).

On the other hand, Nifty Realty fell the most, down around 0.6 percent, while Media and PSU Bank indices also fell around 0.5 percent and 0.3 percent, respectively. The FMCG pack continued to face pressure, slipping around 0.3 percent, while Nifty Energy and Infra were nearly flat with marginal losses.

The smallcap and midcap indices also fell, with the midcap nearly flat, down 0.1 percent. The smallcap faced the most selling pressure, lower by 0.4 percent.

"Currently, the index is navigating through a supply zone between 25,640 and 25,740—an area that aligns with an unfilled gap and acts as immediate resistance. Conversely, the 25,400–25,300 region has emerged as a robust support band," said Dhupesh Dhameja of SAMCO Securities said.

On the stock specific front, HDB Financial shares listed at a decent premium of about 13 percent over its IPO price on the National Stock Exchange. The listing of the shares of the subsidiary of HDFC Bank was better than the expectations in the grey market which had priced in a 8-10 percent gains on the listing day for the allotted investors.

Shares of HDB Financial Services listed at Rs 835 per share on the NSE, a premium of 12.84 percent over its issue price. The Rs 12,500-crore issue had a price band of Rs 700-740 per share.

Paints giant Asian Paints Ltd shares sank after the Competition Commission of India (CCI) has ordered its director general (DG) to investigate allegations of abuse of market dominance by the firm.

IndusInd Bank shares were the top Nifty loser after global brokerage Goldman Sachs cut its rating on the private bank stock to 'sell' and slashed target price by up to 15 percent from the current levels.