Stock Market Live: Sensex slips 400 pts, Nifty below 25K; RIL, ICICI Bank, HCL Tech lead fall

Zee Entertainment share prices rise to ₹124, a steep 5.77% rise, as the company has decided to issue an upcoming dividend of ₹2.43 per share due on 29 August 2025.

Meanwhile, investors stayed optimistic despite Aditya Birla Finance’s Delhi HC challenge to the recent arbitral award.

The benchmark indices continue to slide down, with the Nifty 50 slipping by 169.80 points (0.68%) to 24,913.95, and the Sensex 30 by 553.29 (0.67%), bringing to 81,447.42.

Nifty Media is the only sectoral index trading in green, seeing a rise by 1% from previous day's closing. Top gainers are Zee, Saregama, PVR Inox, Network18 and Hathaway.

Sectoral indices were largely in the red in early trade , with Nifty Metal leading the laggards, down 0.76% at 9,421.95, followed by Realty, Private Bank, Nifty IT, Financial Services, and FMCG. On the positive side, Nifty Media gained 0.44% at 1,645.55, while Nifty Consumer Durables inched up. Pharma, PSU Bank, Auto, and Healthcare indices were largely flat with marginal declines, reflecting a cautious market sentiment.

The top gainers were BEL, Trent, M&M, L&T, Bajaj Finance, Bharti Airtel, Sun Pharma. BEL shares rose 0.82% to ₹377.20 and Trent added 0.58% to ₹5,415.95, emerging as the top movers. M&M, L&T, and Bajaj Finance also edged higher, while Bharti Airtel and Sun Pharma posted marginal gains.

On the downside, Asian Paints slipped 0.99% to ₹2,541.45, leading the losers’ pack. HCL Tech fell 0.81% to ₹1,480.70, while ICICI Bank, Adani Ports, and ITC also traded lower.

Among index heavyweights, Reliance Industries was down 0.57% at ₹1,416.50. HDFC Bank and TCS slipped over 0.4% each, while auto majors Maruti Suzuki and Tata Motors saw mild declines.

The bulls continued their winning run for the sixth consecutive session, with the Nifty index reclaiming the 61.8% retracement of the fall from 25,669 to 24,338, placed at 25,160. The 50-DMA at 25,010 now serves as immediate support, said Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research), Centrum Broking Ltd.

“Momentum indicators and oscillators remain in the positive zone, confirming a bullish undertone. On the upside, a sustained move above 25,160 could open the path towards 25,250 and 25,350. However, chasing the index at higher levels is not advisable, as the risk-reward turns unfavourable. A buy-on-dips approach would be more prudent," he said.

On Thursday, all three major U.S. indices extended their losing streak ahead of the Jackson Hole Economic Policy Symposium, with the S&P 500 slipping 0.4% for its fifth straight decline, while the Dow Jones and Nasdaq each lost 0.34%.

Investors remained wary after Fed minutes indicated concerns around the labor market and inflation, even as policymakers opined it premature to cut rates.

Indian stock markets are likely to open on a cautious note Friday, in line with mixed global trends, as investors await cues from U.S. Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole symposium later in the day.

At 7:30 a.m., GIFT Nifty futures traded 28 points lower at 25,084, hinting at a subdued start for the Sensex and Nifty.

On Thursday, the BSE Sensex and NSE Nifty continued their gaining streak for the sixth straight session, registering their longest rally in two months. The 30-share Sensex rose by 0.17% to reclaim the crucial 82,000 mark, while the Nifty added 0.13% to settle at 25,083.75, as cautious prevailed in the market ahead of the Jackson Hole Symposium.