Indian Equities Stumble as Global Markets Display Sluggish Momentum

Indian stock markets kicked off Thursday’s session on a negative note, succumbing to weak global market signals and lingering doubts about U.S. trade negotiations. The benchmark BSE Sensex declined 260 points, representing a 0.3 percent drop, settling at 84,296 during morning trades—marking the fourth consecutive day of losses. Meanwhile, the broader NSE Nifty index shed 73 points, or 0.3 percent, closing at 25,744 at the open.

Broad-Based Selloff Hits Major Sectors

A across-the-board selling spree gripped the market, with notable declines registered in prominent names. BEL, Trent, Tata Steel, Maruti Suzuki India, NTPC, Mahindra & Mahindra, TMPV, and Sun Pharma each witnessed losses ranging between 1 and 2 percent.

Ola Electric emerged as the day’s biggest laggard, plummeting 2.6 percent following promoter Bhavish Aggarwal’s large stake reduction. The executive divested an additional 4.2 crore shares through open market transactions, signaling significant portfolio repositioning at the company.

Indian Overseas Bank slid 1.2 percent, intensifying its downward trajectory from the previous session. The decline comes after the government initiated its divestment program, announcing plans to offload up to 3 percent of its stake through an offer for sale. Additionally, GMR Power declined 1 percent on the back of fund-raising developments.

Bright Spot in Tech M&A Activity

Contrasting the overall bearish sentiment, Cyient managed marginal gains following positive developments in its international expansion strategy. The company’s Singapore subsidiary is set to acquire a controlling stake exceeding 65 percent in U.S.-based Kinetic Technologies, with the transaction valued at $93 million, providing a rare silver lining amid the sluggish market conditions.