Stock markets fall for 2nd day; Sensex tanks 721 pts dragged by Bajaj Finance, foreign fund outflows
Mumbai, Jul 25 (PTI): Stock markets declined for the second day in a row on Friday, with the Sensex tumbling 721 points due to heavy selling in financial, IT and oil & gas shares amid persistent foreign fund outflows.
The 30-share BSE Sensex tanked 721.08 points or 0.88 per cent to settle at over a month's low of 81,463.09. During the day, it plunged 786.48 points or 0.95 per cent to 81,397.69.
The 50-share NSE Nifty dropped 225.10 points or 0.90 per cent to a month's low of 24,837.
Analysts said a weak trend in Asian and European markets also dented investors' sentiment.
Vinod Nair, Head of Research, Geojit Investments Limited, said, "Subdued corporate results and lacklustre global cues triggered a broad-based sell-off across domestic equities. Elevated valuations in large-cap stocks, coupled with significant net short positions held by FIIs, added to the downward pressure."
Among Sensex firms, Bajaj Finance declined 4.73 per cent post its June quarter earnings announcement. Power Grid, Infosys, Tech Mahindra, Bajaj Finserv, Trent, Tata Motors, NTPC and Adani Ports were also among the laggards.
However, Sun Pharma and Bharti Airtel emerged as gainers.
"Markets extended their decline on Friday, losing nearly a per cent amid weak global cues. Benchmark indices remained under pressure from the outset, largely due to disappointing earnings, with the situation worsening as the session progressed.
"The recent correction reflects growing concerns around earnings disappointments and cautious management commentary, which are weighing heavily on investor confidence. Additionally, continued selling by FIIs is exacerbating the pressure," Ajit Mishra – SVP, Research, Religare Broking Ltd, said.
The BSE smallcap gauge tanked 1.88 per cent and midcap index dropped 1.46 per cent.
Utilities slumped 2.37 per cent, power tumbled 2.36 per cent, oil & gas (2.11 per cent), industrials (1.88 per cent), capital goods (1.83 per cent), IT (1.65 per cent) and metal (1.64 per cent).
BSE healthcare emerged as the only gainer.
As many as 2,892 stocks declined while 1,117 advanved and 145 remained unchanged on the BSE.
On the weekly front, the BSE benchmark gauge declined 294.64 points or 0.36 per cent, and the Nifty dipped 131.4 points or 0.52 per cent.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,133.69 crore on Thursday, according to exchange data. However, Domestic Institutional Investors (DIIs) bought stocks worth Rs 2,617.14 crore.
In Asian markets, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng settled lower while South Korea's Kospi ended in positive territory..
European markets were trading lower. The US markets ended on a mixed note on Thursday.
India and the UK signed a landmark free trade agreement on Thursday, which, starting next year, will see 99 per cent of Indian exports enter the UK duty-free, while reducing tariffs on British products such as cars and whisky.
The deal, which comes days ahead of the US moratorium on higher tariffs coming to an end, aims to double the USD 56 billion trade between the world's fifth and sixth largest economies by 2030.
Global oil benchmark Brent crude climbed 0.32 per cent to USD 69.40 a barrel.
On Thursday, the Sensex tanked 542.47 points or 0.66 per cent to settle at 82,184.17. The Nifty dropped 157.80 points or 0.63 per cent to 25,062.10.
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Man thrown 50 ft into air as powerful storm lashes UP's Bareilly
Bareilly (PTI): In a shocking incident, a man was flung nearly 50 ft into the air along with a tin roof and thrown into a field during a powerful storm in Uttar Pradesh's Bareilly district, where the adverse weather claimed at least four lives.
The man in the video, Nanhe Mian of Bamiyana village, suffered multiple injuries in the incident that occurred on Wednesday.
In a video of the incident doing the rounds on social media, the man is seen being launched into the air while he is holding onto the tin roof. He then lets go, does a somersault in the air and lands in the adjacent field.
Initially, some social media users expressed disbelief over the video and suspected that it was generated using artificial intelligence. But for Nanhe, an e-rickshaw driver, it is all too real.
Nanhe, around 50 years old, said on Thursday that he had gone to a wedding hall to collect some items when the storm intensified.
"The wind was so strong that the tin shed started making loud noises. I thought if I did not hold onto it, it would be blown away in the storm. So, I immediately grabbed a rope tied to the shed," he said.
"Then a very strong gust came and lifted both the shed and me into the air. I was carried nearly 50 ft into the air before the storm weakened and I fell to the ground," he said.
Nanhe, who lives with his wife and their five children, said he suffered injuries on his head, back, arms and legs. These include a fractured arm and leg.
Bareilly Police said in a statement that Nahne was standing inside the wedding hall in Bamiyana when strong winds and rain tore the tin roof of the structure.
According to the Uttar Pradesh government, at least 89 people were killed and around 50 injured in storm and rain-related incidents across the state on Wednesday.
Several animals were also killed and houses and shops were damaged in many places.
In Bareilly, four people were killed between 8.30 am and 11.30 pm on Wednesday, nine animals perished and around 30 houses suffered heavy damage, officials said.
Meet Nanhe Miyan of Bareilly, UP.
— Treeni (@treeni) May 13, 2026
During a severe storm at a wedding venue, he was lifted into the air along with a tin shed he was holding onto.
He flew high before crashing to the ground, breaking both arms and legs. Now hospitalised.pic.twitter.com/D616Z5X23L
