Indian stock market today faced another challenging session as key benchmarks extended their weekly decline. The BSE Sensex dropped by 501.51 points, closing at 81,757.73, a decline of 0.61 percent. The NSE Nifty 50 ended the day down 143.05 points, or 0.57 percent, finishing at 24,968.40. Both indices recorded losses for the second consecutive session of the week amid persistent selling pressure in financials and select heavyweights. Market sentiment was dampened by lackluster earnings from the banking sector, particularly Axis Bank, and continued foreign outflows. The broader BSE MidCap and SmallCap indices also slipped, shedding 0.6 percent each.

Sector Performance Highlights
Banking Sector remained a significant drag on the Indian stock market today. Stocks like Axis Bank, Kotak Mahindra Bank, and other large financials posted notable declines. Axis Bank underperformed its quarterly expectations, contributing to sharp sector-wide pressure.

IT Sector experienced further weakness, influenced by mixed Q1 earnings from major players such as Wipro and LTIMindtree. The sector continued its underwhelming trend, lagging behind other segments and adding to the day’s negative market breadth.

Auto Sector stocks were relatively resilient in today’s trade, avoiding significant losses with some select counters attracting buying on dips.

Pharma Sector showed mixed performance with AstraZeneca Pharma declining more than 2 percent. The sector lacked a clear trend, with individual names fluctuating due to stock-specific developments.

Top 5 Gainers
Bajaj Finance +3.1%
Tata Steel +2.7%
ICICI Bank +1.2%
UltraTech Cement +1.0%
Sun Pharma +0.9%

Top 5 Losers
Axis Bank -5.2%
Kotak Mahindra Bank -3.4%
Bharti Airtel -2.6%
AstraZeneca Pharma -2.5%
Wipro -2.1%

FII/DII Net Flows
Foreign Institutional Investors (FIIs) were net sellers in the Indian stock market today, driven by cautious global cues and sector-specific disappointments. Domestic Institutional Investors (DIIs) offered limited offset through selective buying in midcap and consumption stocks. The exact net flow figures have not been disclosed in the available context, but the trend underscores ongoing foreign outflows as a major market pressure point.

Key Macro-Economic & Global Drivers
US Fed Rate Uncertainty caused volatility amid expectations of further rate hikes or pauses by the US Federal Reserve, leading to foreign outflows from emerging markets like India. Rising crude prices raised concerns about inflation and corporate profitability for Indian companies. Mixed corporate earnings, notably Axis Bank’s disappointing results, influenced banking stocks. India-US trade talks, with potential tariffs of 10-15% on Indian exports, raised sector impact worries. Weakness in other Asian and global stock markets further dampened sentiment as a risk-off mood prevailed.

What to Watch Next
Upcoming Q1 earnings from IT, banking, and FMCG sectors will be closely watched. Monitoring FII/DII foreign capital movement remains critical amid subdued global risk appetite. Macro developments such as inflation data, oil prices, and monetary policy decisions domestically and internationally could sway markets. Ongoing India-US trade negotiations and tariff announcements require attention. Market may witness sector rotation toward defensives like FMCG and Pharma if volatility remains high.