Markets Slide for Second Consecutive Day; Sensex Drops Over 350 Points, Vedanta Shares Surge

Indian stock markets fell for the second consecutive day today, reflecting continued volatility amid mixed trading sentiments. The markets opened with a slight decline in the morning, showed brief recovery, but slipped again in the afternoon session.

At 2:30 PM, the BSE Sensex dropped 371.96 points, or 0.44%, to 83,255.73, while the NSE Nifty 50 fell 109.55 points, or 0.43%, to 25,622.75. In the past seven trading days, the markets have recorded declines on six occasions, indicating sustained pressure on investors.

Among Sensex stocks, Tata Steel, NTPC, Axis Bank, Ultratech Cement, and Bharat Electronics saw gains, while TCS, Asian Paints, Sun Pharma, and HUL dropped up to 2%. In broader markets, the Nifty Midcap 100 fell 0.46%, and the Nifty Smallcap Index declined 0.82%. Sectorally, the Nifty Metal Index gained 2%, and Nifty PSU Bank rose 1.9%, while Nifty Oil & Gas, Private Bank, and Media indices saw losses.

Vedanta and Hindustan Zinc Hit Record Highs Amid Market Fall

Amid the market downturn, Vedanta and its subsidiary Hindustan Zinc shares reached all-time highs. NuVama Institutional Equities raised Vedanta’s target price, while a record surge in silver prices propelled Hindustan Zinc’s stock. During trading, both shares rose over 6%, highlighting strong investor confidence in the companies despite broader market weakness.

The contrasting performance underscores the resilience of commodity-linked stocks even as the broader market grapples with volatility.