- Sensex: Closed at 79,857.79, down 765.47 points or 0.95%.
- Nifty50: Closed at 24,363.30, down 232.85 points or 0.95%.
The sharp declines marked the sixth straight weekly loss for both indices, which is the longest losing streak since the Covid-induced market crash in March 2020.
Broader indices performance:
- Nifty Midcap 100: Closed 1.64% lower, reflecting weakness in mid-sized stocks.
- Nifty SmallCap: Ended 1.49% lower, indicating a broad-based sell-off across smaller companies as well.
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Impact on the stock market
Today, all sectors ended in the red, with Nifty Realty emerging as the biggest loser, down by 2.11%. Here’s a look at the performance across different sectors:
- Nifty Realty: Down 2.11%
- Nifty Metal: Down 1.76%
- Nifty Auto: Down 1.40%
- Nifty Pharma: Down 1.30%
The IT sector was among the relatively stronger performers, but it wasn’t enough to offset the overall negative sentiment. The market was primarily impacted by the tariff news, which sent shockwaves through various sectors that rely heavily on global trade, such as metals, realty, and auto.
| Sector/Index | Performance |
| IT & BPM sector | -0.95% |
| Healthcare sector | -1.22% |
| Oil & Gas sector | -0.07% |
| Real estate sector | -2.11% |
| PSU Bank in India | -0.41% |
Top gainers today
| Company | Price (in ₹) | Change % |
| NTPC Share Price | 334.75 | 1.52 |
| Titan Company Share Price | 3,460.20 | 1.30 |
| Dr Reddys Labs Share Price | 1,211.40 | 0.88 |
| HDFC Life Share Price | 761.55 | 0.77 |
| Bajaj Finserv Share Price | 1,919.20 | 0.27 |
Top losers today
| Company | Price (in ₹) | Change % |
| Bharti Airtel Share Price | 1,858.60 | -3.33 |
| Adani Enterpris Share Price | 2,178.10 | -3.19 |
| IndusInd Bank Share Price | 782.45 | -3.08 |
| Shriram Finance Share Price | 609.65 | -2.82 |
| M&M Share Price | 3,144.20 | -2.08 |
Market aftermath: Impact on stocks
Grasim Industries: A strong Q1 but market concerns linger
Grasim Industries delivered strong Q1FY26 results, reporting a 32% rise in net profit to ₹1,419 crore, driven by solid performances in its cement and chemicals businesses. The company’s revenue grew 16% year-on-year, hitting ₹40,118 crore, while EBITDA surged 36% to ₹6,430 crore.
- The cement segment continued to be the major earnings driver for Grasim, with cement volumes rising by 10% year-on-year.
- In the paints business, Birla Opus, the company’s newly launched venture, saw double-digit revenue growth and is now ranked as India’s third-largest decorative paints brand.
Despite the growth in these sectors, the market didn’t react strongly to Grasim’s positive results, with the broader market sentiment weighing down on stock movements.
Coforge: Market jitters after key client’s weak performance
Coforge, a midcap IT firm, saw its shares slide by 6% today, continuing its downtrend after a key client, Sabre Corp, reported disappointing results. The weak quarterly report from Sabre, which saw a 35% drop in revenue, rattled investors, as Coforge has a significant partnership with Sabre under a 13-year agreement.
- Coforge posted 8% growth in revenue in constant currency terms for Q1FY26, which was a strong showing. However, the market was concerned about the impact of Sabre’s weak outlook on Coforge’s future earnings.
- Despite securing $507 million in new deals, investors remain worried about the potential slowdown in travel and hospitality, which accounts for a large part of Coforge’s business.
Coforge’s stock has now fallen over 16% since the beginning of the year, with today’s decline adding to the pressure.
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JSW Steel: A setback due to legal issues in Bhushan Power & Steel acquisition
JSW Steel saw its shares fall 2% today after banks requested that EBITDA from Bhushan Power & Steel (BPSL) during the insolvency resolution process should flow to creditors. This demand came after a ruling by the Supreme Court, which recalled its earlier judgment that scrapped JSW Steel’s resolution plan for BPSL.
- The legal battle over the acquisition of BPSL has created uncertainty for JSW Steel, and the stock took a hit as a result. Investors are now concerned about delays in the resolution process and potential cost overruns.
This development added to the pressure on the stock, despite the strong fundamentals of the company’s steel business.
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Crude oil: Impact of tariff tensions on fuel costs
Crude oil futures traded slightly higher today after news of the escalating tariff dispute between the US and India. Brent crude was trading at $67.46, up 0.85%, while WTI futures rose to $64.95, up 0.93%. However, India’s crude oil import bill is expected to rise significantly if the country stops importing Russian crude oil.
According to a report by SBI, if India halts Russian crude imports for the rest of FY26, the country’s fuel bill could increase by $9 billion. Russia, which accounts for 35.1% of India’s total oil imports, has been a key supplier, especially since the war in Ukraine led to discounted oil prices. A sudden stop in these supplies would send India’s oil costs skyrocketing, adding inflationary pressures on domestic prices.
- SBI estimated that India’s total fuel bill could rise by $11.7 billion in FY27 if Russian oil imports are halted.
This scenario has raised concerns about the impact on both inflation and India’s energy security, which could further add strain to the economy.
Conclusion
The Indian stock market faced significant pressure today, with both Sensex and Nifty closing lower. The sixth consecutive weekly loss signals a challenging phase for the markets, primarily driven by global trade tensions and ongoing tariff issues with the US. Despite positive earnings reports from companies like Grasim and Coforge, investor sentiment remained negative due to the broader geopolitical and economic uncertainties.
Key sectors such as realty, metal, and auto were among the biggest losers, reflecting a broad-based sell-off. Meanwhile, crude oil prices continue to be volatile, with potential risks to India’s fuel import bill if Russian oil is no longer an option. The ongoing tariff situation with the US remains a significant risk factor for market stability in the short term.
As we head into the weekend, investors will need to stay alert to both domestic and global developments, as these will likely dictate the market’s direction in the coming weeks.
For more stock market insights, check out the StockGro blog.
