A choppy trading session on May 26 saw Indian stock markets close in the red, with the Sensex tumbling 479.26 points, or 0.63%, to 76,009.70 and the Nifty 50 losing 118 points, or 0.49%, to end at 23,913.70. The day marked the monthly F&O expiry, a period often marked by heightened volatility, as traders squared off their positions.
Profit Booking Returns After Monday’s Rally
The session started on a mildly negative note, with Nifty50 opening at 24,000 and the Sensex quickly slipping by 140 points. Despite some brief attempts to claw back gains, both indices failed to sustain any upward momentum. By 1:55 pm, Nifty was down 81.85 points at 23,949.45, while the Sensex had shed 381.04 points. Heavyweight stocks came under pressure, dragging the market lower as selling intensified in the afternoon.
This sharp turnaround followed Monday’s strong performance, when the Nifty 50 had rallied 1.3% amid a steep 6% drop in Brent crude prices—down to $95 per barrel, the lowest in over two weeks. Hopes for a resolution in the US-Iran standoff had helped global sentiment, but that optimism faded as tensions resurfaced and crude prices staged a mild pullback.
Sector Moves and Notable Stocks
Coal India was among the few bright spots, jumping 2.95% to Rs 471.50—its best showing in 11 weeks. Meanwhile, Mankind Pharma saw a block deal involving 1.28 million shares, with the stock quoted at Rs 2,438.00. Premier Explosives extended its winning streak, hitting a 52-week high at Rs 747.45.
On the earnings front, Man Industries India reported a 25.4% year-on-year drop in Q4 consolidated profit to Rs 50.85 crore, while Aditya Birla Fashion and Retail’s quarterly loss widened to Rs 148.4 crore despite a 15% revenue increase.
Global cues also played a role, with Japan’s Nikkei 225 ending 0.25% lower at 64,996.09 after briefly breaching 65,000 for the first time in Monday’s thin holiday trading. The Topix index was also marginally lower at 3,938.46.
Looking ahead, analysts expect Indian indices to remain range-bound, with mild profit booking likely as traders digest both domestic and international developments. Gift Nifty’s dip by 95 points in early trade signals a cautious start for the next session.
