Nifty Declines Over 1% on Weak Economic Data, Monsoon Worries and Broad Global Market Pressure

Within the Nifty 50, defensive stocks outperformed amid broad market weakness. $CIPLA (+1.36%), $POWERGRID (+0.95%), Dr. Reddy’s (+0.79%), $ASIANPAINT (+0.41%), and Sun Pharma (+0.22%) led the gainers, reflecting strength in pharma, utilities, and defensive consumption. On the other hand, $INFY (−3.42%), $WIPRO (−3.21%), $TCS (−3.19%), JSW Steel (−3.10%), and Adani Enterprises (−3.10%) were among the top losers, highlighting weakness in IT, metals, and cyclical sectors. Sectorally, sentiment remained negative with most indices ending lower. Nifty Metal (−3.22%) and Nifty IT (−2.23%) led the decline, followed by Consumer Durables, Media, Banking, and Energy stocks. Realty and Financial Services also closed in the red. Nifty Pharma (+0.92%) was the sole sectoral gainer, indicating a clear shift towards defensive sectors amid the broader market sell-off.