May 22, 2025 | Mumbai:
The Indian stock market saw a sharp reversal on Thursday, closing broadly lower as heavyweights in the IT, FMCG, and auto sectors dragged the indices into negative territory. Despite a few gainers, the overall sentiment remained cautious, reflecting investor concerns over global cues and profit booking.
Among the few stocks that managed to stay in the green, IndusInd Bank surged 1.68% to close at ₹784.05, leading the gainers' list. Adani Ports followed with a 0.83% uptick to ₹1396.00, while Tata Steel posted a modest gain of 0.34%.
Bharti Airtel remained nearly flat with a 0.07% increase at ₹1823.50, and State Bank of India (SBI) edged slightly lower by 0.25% to end at ₹785.20.
However, the broader market witnessed a wave of declines. Major players in the tech sector such as HCL Technologies and Tech Mahindra fell sharply by 2.19% and 2.26%, respectively. Infosys and TCS were not spared either, dropping 1.49% and 1.36% respectively, reflecting a sector-wide pullback.
FMCG giants also struggled, with Hindustan Unilever falling 1.59% and ITC losing 1.54%. Consumer goods heavyweight Nestlé India declined by 1.78%.
Auto majors were under pressure too, with Mahindra & Mahindra (M&M) dipping 1.63%, and Tata Motors down 1.20%. Maruti Suzuki lost 0.98%, reflecting concerns over rising input costs and global supply chain uncertainties.
Energy and infrastructure stocks didn't fare much better. Reliance Industries fell 1.22%, and Power Grid Corporation saw the steepest fall of the day, down 2.75%.
Banking stocks showed mixed movement. While Kotak Mahindra Bank and HDFC Bank were down 0.88% and 0.97% respectively, ICICI Bank fell 0.70%, and Axis Bank lost 1.36%.
The market breadth clearly favored the bears, with declines outweighing gains. Analysts attributed the fall to cautious sentiment ahead of upcoming economic data, weak global cues, and selective profit booking.
Investors are expected to remain watchful in the coming sessions as macroeconomic indicators and global market developments continue to shape sentiment.