Sensex, Nifty erase early gains; banking stocks take a hit
Indian stock markets kicked off Thursday with a strong rally—Sensex jumped over 800 points and Nifty crossed 25,400—after the US dropped planned tariffs on some European nations.
But the excitement faded fast as profit booking and heavy selling by foreign investors pulled both indices back down.
Why does this matter?
A three-day market slide just wiped out ₹14 lakh crore in value, showing how global trade moves can shake up Indian investments.
Banking indices were pressured, reminding us that international news can quickly impact our own markets—and even your investment apps.
What's behind the swings?
Foreign investors sold shares worth ₹1,788 crore on Thursday alone, while domestic institutional investors were net buyers with inflows of ₹4,520 crore.
Plus, new labor codes pushed up costs for companies like Eternal, erasing their intraday gains despite better profits.
It's a reminder: global headlines and policy changes can pack a punch for Indian stocks.