Indian equity benchmarks extended their losses in afternoon trade as selling pressure intensified across select heavyweight stocks, with Adani Group companies, Eternal and InterGlobe Aviation emerging as key drags on the market. Weak sentiment in these counters outweighed gains in pockets of the broader market, keeping benchmark indices firmly in the red.
As of 2:01 pm, the Nifty 50 was trading at 25,046.25, down 0.96 percent or 243.65 points, while the BSE Sensex slipped 0.91 percent or 748.23 points to 81,559.14. The decline marked a continuation of the cautious mood seen earlier in the session, with investors trimming positions amid stock-specific weakness and lingering concerns over valuations.
Adani Group stocks were under pressure across the board, contributing significantly to the benchmarks’ decline due to their heavy index weight. Shares of Eternal also traded lower, adding to the drag, while InterGlobe Aviation faced selling interest as investors booked profits after recent gains. The weakness in these stocks offset support from select banking and FMCG names, preventing any meaningful recovery in the indices.
Market participants remained guarded, with intraday volatility reflecting a lack of strong directional cues. Traders pointed to selective profit-taking and cautious positioning ahead of upcoming global and domestic triggers, including macroeconomic data and corporate earnings updates, as factors influencing sentiment.
In the broader market, mid-cap and small-cap stocks showed a mixed trend, suggesting that while risk appetite has not fully evaporated, investors are increasingly selective. Overall, the afternoon trade reflected a defensive undertone, with benchmarks extending losses as heavyweight stocks continued to weigh on market sentiment.