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yesterday

Sensex and Nifty Drop Over 1% as Profit Booking and Trade Uncertainty Weigh on Markets

Indian equity benchmarks record their third consecutive session of losses, driven by sectoral declines, FII outflows, and unresolved India-US trade talks.

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A trader works during the closing bell, on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., May 19, 2025. REUTERS/Jeenah Moon/File Photo

Overview

  • The BSE Sensex fell 872.98 points to close at 81,186.44, while the NSE Nifty dropped 261.55 points to settle at 24,683.90, marking a third straight day of losses.
  • Profit booking in auto, banking, and pharma sectors led the declines, with major companies such as HDFC Bank, Reliance Industries, and ICICI Bank dragging indices lower.
  • Foreign Institutional Investors (FIIs) sold shares worth ₹525.95 crore on May 19, adding downward pressure to the markets.
  • Uncertainty surrounding India-US trade negotiations dampened investor sentiment, with no resolution announced during Commerce Minister Piyush Goyal's recent US visit.
  • China’s central bank rate cuts provided limited support to metal stocks like Tata Steel and Hindalco, but broader market sentiment remained weak.