The stock market took another hit on Thursday as the benchmark Sensex reversed early gains to close lower by 200 points, marking its fifth consecutive session in the red. Selling pressure in key sectors like real estate, IT, and auto weighed on the indices, with NSE Nifty also closing 73 points lower at 22,397.
Market Under Pressure Despite Resilience
Sensex opened on a positive note but failed to hold its gains as investors turned cautious. The index eventually settled at 73,829, down by 200 points, extending its losing streak. Meanwhile, the Nifty faced similar headwinds, falling 73 points.
“A shortened trading week combined with selling pressure in the US market is creating temporary volatility. However, India remains resilient and is showing healthy outperformance, despite a slightly negative trend,” said Vinod Nair, Head of Research at Geojit Financial Services.
The decline was primarily led by:
- Weakness in IT stocks amid concerns over global demand.
- Auto sector stocks facing profit booking after recent gains.
- Realty counters slipping as interest rate worries loom over the sector.
MTNL Soars on Land Monetisation Gains
While most stocks struggled, MTNL emerged as a notable gainer, surging over 12% during Thursday’s session. The sharp rise followed the company’s announcement that it had earned Rs 2,134.61 crore through the monetisation of lands and buildings up to January 2025.
Investors cheered the development as the debt-ridden state-run telecom operator looks to shore up its financials. The stock price hit an intra-day high before paring some gains but still ended significantly higher.
One analyst noted, “This move strengthens MTNL’s liquidity position and could be a positive step towards reducing its long-standing financial burden.”
SEBI Expands Scope of Unpublished Price Sensitive Information
In a major regulatory shift, the Securities and Exchange Board of India (SEBI) has broadened the definition of Unpublished Price Sensitive Information (UPSI). The new guidelines now cover additional categories such as proposed fundraising agreements, restructuring plans, and one-time bank settlements.
This expansion means that:
- Companies will have to disclose more financial details that could impact stock prices.
- Investors will gain better transparency on corporate developments.
- Market participants will need to be more cautious in handling sensitive information to avoid insider trading risks.
A market expert commented, “SEBI’s move is aimed at improving market fairness and ensuring timely disclosure of critical financial decisions. It will significantly impact companies engaged in fundraising and restructuring.”
With the broader market still navigating selling pressure, investors remain watchful of upcoming economic cues and global trends that could influence sentiment further.
