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Nifty slips below 18,200 on heavy selling

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Due to weak global markets and heavy domestic selling, Indian stock markets declined for the second consecutive day. Heavyweight stocks, in particular, saw heavy selling pressure, which pushed the Nifty below 18,200. The BSE Sensex ended the day down 372 points at 61,561. Similarly, the NSE Nifty fell 105 points to close at 18,182.

Top Gainers (NSE)

company Closing Price (Rs.) increase (%)
Hero MotoCorp 2722.95 1.38
IndusInd Bank 1236.15 1.30
ITC 427.60 0.86
UPL 677.80 0.74
BPCL 364.75 0.68

In case of heavyweight stocks, Kotak Mahindra Bank, Apollo Hospitals, SBI Life Insurance, TCS and HCL Technologies were the top losers. Hero MotoCorp, IndusInd Bank, ITC, UPL and BPCL were among the gainers. Market experts say that due to the bank crisis in America and the worsening debt situation, global markets have slowed down. Due to this selling pressure was also seen in India.

Top Losers (NSE)

company Closing Price (Rs.) Reduce (%)
Kotak Mahindra Bank 1909.15 1.95
Apollo Hospitals 4482.15 1.60
SBI Life Insurance 1162.60 1.54
TCS 3208.70 1.52
HCL Technologies 1074.55 1.48

Vinod Nair, head of research at Geojit Financial Services, said domestic investors remained cautious in response to weak global sentiment as US markets showed signs of a slowdown, with recent economic data showing a bearish outlook. US retail sales data for April showed a slowdown in demand and the ongoing debt ceiling talks further weighed on market sentiment.