The Indian stock market faced a sharp turn in sentiment during the noon session as the Sensex fell by more than four hundred points and the Nifty50 slipped below the 26100 mark. After several days of firm momentum and record-high closings, investors chose to lock in profits amid weak cues from global markets, a softening rupee, and uncertainty ahead of upcoming policy events. The decline was led largely by financial and banking counters, which had been among the strongest contributors to past rallies. With traders turning cautious, the broader market also showed signs of fatigue as buying interest thinned out across multiple sectors.
Among the stocks drawing the most attention was Bajaj Housing Finance, which witnessed a steep decline after a significant block deal involving a promoter stake sale. The stock fell sharply and even touched a fresh yearly low, reflecting investor concerns about dilution and the timing of the sale. The heavy volume added to the pressure, signalling that market participants were reassessing the near-term outlook for the company.
In contrast, Vodafone Idea emerged as one of the day’s positive movers. The stock gained strength amid renewed hope that the company may receive further relief related to its long-standing liabilities. Even as the broader market struggled, the telecom major attracted intraday buying as investors reacted to speculation of potential support measures from the government. Such developments often lead to quick sentiment shifts, especially for companies navigating financial stress, and today’s trade reflected exactly that dynamic.
The overall picture suggests a market taking a breather after sustained highs. Currency weakness, global uncertainties and expectations surrounding upcoming policy cues are all contributing to a more cautious risk appetite.
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