Did the Stock Market's 6-Day Winning Streak Come to an End?
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Synopsis
The Indian stock market has taken a downturn after a remarkable six-day winning streak, with key indices closing in the red amid widespread profit booking. Investors are now eyeing upcoming U.S. jobs data and developments in Indo-U.S. trade relations as potential market movers.
Key Takeaways
- The Indian stock market ended a six-day winning streak.
- Sensex closed at 84,673.02, down 277.93 points.
- Nifty closed at 25,910.05, down 103.40 points.
- Profit booking was cited as the primary reason for the decline.
- Investors are awaiting U.S. jobs data for market direction.
Mumbai, Nov 18 (NationPress) The Indian stock indices experienced a decline on Tuesday, ending a remarkable six-day winning streak as investors engaged in profit booking.
The Sensex settled at 84,673.02, reflecting a drop of 277.93 points or 0.33 percent. Starting the day at 85,042.37 compared to the previous day's close of 84,950.95, the 30-share index soon slipped into negative territory due to mounting selling pressure.
Meanwhile, the Nifty index closed at 25,910.05, down 103.40 points or 0.40 percent.
According to analysts, "The domestic equity market declined as investors capitalized on profits after a recent rebound, reflecting a weak global sentiment. The anticipation of a U.S. Fed rate cut in December has lessened, impacting market sentiment. This was evident in the downturn of IT, metal, and real estate stocks in the face of a stronger dollar, while private banks provided some semblance of support."
Looking ahead, investors are keenly awaiting this week’s U.S. jobs data, which is anticipated to play a crucial role in shaping the Fed’s policy direction. Furthermore, advancements in the Indo-U.S. trade agreement and a strengthening domestic earnings outlook could potentially restore confidence and bolster market momentum, aiding the Nifty50 in surpassing the 26,000 mark.
Stocks such as Tech Mahindra, Eternal, Infosys, Bajaj FinServ, Bajaj Finance, L&T, Trent, Hindustan Unilever, HCL Tech, Mahindra and Mahindra, TCS, BEL, HDFC Bank, ICICI Bank, and Sun Pharma were among the top losers within the Sensex framework. In contrast, Bharti Airtel, Axis Bank, Asian Paints, and PowerGrid managed to close higher.
A majority of sectoral indices faced a downturn amid widespread selling. The Nifty Fin Services index fell by 99 points or 0.36 percent, Nifty Bank dropped 63 points or 0.11 percent, Nifty Auto decreased 104 points or 0.38 percent, Nifty FMCG fell 313 points or 0.56 percent, and Nifty IT concluded the session down 400 points or 1.10 percent.
Broader indices also felt the pressure, with Nifty Midcap declining by 358 points or 0.59 percent, Nifty Smallcap 100 dropping 192 points or 1.05 percent, and Nifty 100 closing 120 points or 0.45 percent lower.
Point of View
It is essential to recognize that market fluctuations are part of the economic cycle. While today's declines may seem concerning, they present opportunities for informed investors to recalibrate their strategies. The long-term outlook remains contingent upon global cues and domestic economic health.
NationPress
18/11/2025
