Markets Slide: Sensex Down 250, Nifty Tests 26,050; Metal Index Drops 2%

Sensex and Nifty Open Lower; Metal Stocks Lead Early Losses.

Benchmark indices opened lower on Thursday, with metal sector stocks dragging the market, before turning flat shortly after the opening bell amid fresh US tariff concerns. As of 9:22 am, the S&P BSE Sensex was down 116.63 points at 84,844.51, while the NSE Nifty50 fell 33.70 points to 26,107.05.

Sector Movements

On the gainers’ side, Eternal led with a 1.42% rise, followed by Adani Ports & SEZ (1.37%), Bharat Electronics (1.20%), Bajaj Finance (0.60%), and Titan Company (0.44%). Among the laggards, Tata Consultancy Services slipped 3.02%, Tata Steel fell 1.71%, Tech Mahindra dropped 1.69%, Reliance Industries was down 1.15%, and Asian Paints fell 1.09%.

Analysts’ Take

Aakash Shah, Technical Research Analyst at Choice Equity Broking, said,
“Muted sentiment across Asian markets and profit-booking after recent consolidation may weigh on early momentum. However, selective buying could emerge near key support levels.”

From a fundamental perspective, markets are supported by strong economic growth. Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments, noted that FY26 GDP is projected at 7.4%, reflecting India’s resilience despite external challenges such as the US tariff threat.

He added, “This positive macro picture may not immediately translate into market gains, as uncertainty over a US-India trade deal and continuing FII selling weigh on sentiment. While large-cap valuations in India are reasonable, cheaper opportunities abroad limit foreign inflows.”

Dr. Vijayakumar also highlighted that the market could react to the Supreme Court verdict on reciprocal tariffs, expected soon, which may influence foreign investment flows.