The BSE Sensex fell 315 points, or 0.39%, to close at 79,801, while the NSE Nifty 50 shed 82 points, or 0.34%, ending the day at 24,247, slipping below the psychologically important 24,300 level. The Nifty Bank index also declined by 169 points to settle at 55,201, led by losses in index heavyweights ICICI Bank and HDFC Bank, which continued to weigh on broader market sentiment.
Among the biggest drags was Hindustan Unilever, which slipped nearly 4% after the FMCG major indicated its operating margins would remain in the range of 22–23%. The cautious guidance failed to meet street expectations, triggering a sell-off. Nestle India, which had gained in early trade after its March quarter earnings, ended off the day’s highs as investors reacted to mixed financials.
The broader market saw a fairly neutral tone, with the Nifty Midcap 100 ending down by 71 points at 54,970. Market breadth remained evenly balanced, with the advance-decline ratio at 1:1, signaling lack of clear directional bias.
On the positive side, Divi’s Laboratories surged 5% following a positive brokerage report citing improved visibility on growth and margin sustainability. Dalmia Bharat also gained 5%, buoyed by a strong earnings print that showed stable operational performance and better-than-expected profitability.
Pharma name Lupin ended 1% higher after receiving U.S. FDA approval for a key drug, while Laurus Labs, despite reporting a better-than-expected quarter, closed 1% lower as investors opted to lock in recent gains.
Among the other outperformers, Adani Energy Solutions advanced nearly 3% after posting strong quarterly results. The company’s healthy operational metrics and revenue growth were viewed positively by the street. Tyre stocks such as Apollo Tyres and MRF added 2% each, continuing their upward momentum on hopes of strong domestic demand and easing input costs.
Whirlpool of India saw strong buying interest, ending 9% higher on the back of robust volumes and institutional flows, as investors bet on a seasonal recovery in consumer durables ahead of summer. However, tech firm Persistent Systems gave up early gains and closed 5% lower from intraday highs after management flagged a cautious outlook for the upcoming quarters, citing global macro uncertainty and moderation in client spends.
Analysts said the market could remain in consolidation mode in the near term as investors digest corporate earnings, global data prints, and cues from central banks. “It was an expected pause after a strong run-up. The focus will now shift to stock-specific action, especially as Q4 numbers start coming in thick and fast,” said a fund manager at a domestic mutual fund.
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