Market Update: Sensex and Nifty Drop as IndusInd Bank Shares Plunge

On October 25, the Sensex and Nifty opened flat but quickly fell.

IndusInd Bank was the biggest loser on the Nifty 50 as its shares dropped 18%.

Theshares fell after its Q2FY25 net profit fell 40% to ₹1,331 crore due to higher loan loss provisions.

In contrast, ITC’s shares rose over 4% after a strong Q2 performance driven by increased cigarette sales and a successful hotel business.

By 10:15 AM, the Sensex was down 390 points (0.5%) at 79,672, while the Nifty fell 160 points (0.7%) to 24,235.

Out of 2,966 stocks, 741 were trading in green and 2,112 were trading in red.

Experts believe that the market might stay under pressure and expect the Nifty to drop another 3-5% due to selling by Foreign Institutional Investors (FIIs).

Both indices have fallen 1.8% and 1.4% this week.

This is their fourth straight weekly loss and the longest since August 2023.

In the broader market, the BSE Midcap and Smallcap indices also fell nearly 2%.

Experts say that small-cap earnings haven't kept up with their valuations, suggesting there could be more declines ahead.

In terms of sectors, the Nifty Bank, Auto, PSU Bank, and Metal indices all fell by 1.5-2.5%.