The Stock Market Today closed lower as investors reacted to global economic cues and mixed domestic triggers. The Sensex fell by 288 points, and the Nifty remained under pressure below the 25,500 mark. Despite the overall decline, the highlight of the session was the listing of HDB Financial Services, which surged over 13% on debut. On the other hand, Crizac’s IPO failed to excite investors. While metal and auto stocks provided some relief, PSU banks pulled the broader markets down.
Stock Market Today: Sensex slips 288 pts on weak cues
The Sensex fell by 288.3 points, settling at 83,390, while the Nifty 50 closed below the key 25,500 level at 25,450.5. Weak global signals, including cautious U.S. Fed outlook and softening global demand, weighed heavily on investor sentiment. Banking and financial services stocks led the decline, with pressure on large caps like HDFC Bank and Reliance Industries. Meanwhile, the volatility index (India VIX) rose by 3%, indicating rising market uncertainty.
Nifty struggles below 25,500 mark
The Nifty hovered below the 25,500 level throughout the session, reflecting limited buying interest. Despite intraday attempts to recover, profit-booking in financial and PSU bank stocks capped gains. The broader market trend remained bearish, though select sectors saw marginal gains.
For detailed, live updates on today’s market performance, visit The Hindu BusinessLine’s full coverage here.
HDB Financial IPO gains 13% on debut
One of the top stories in the Stock Market Today was the successful debut of HDB Financial Services. Shares listed at ₹835, a 13% premium over the issue price of ₹740. The IPO received strong investor interest with an overall subscription of 16.7 times, including 55x from QIBs and 5.7x from retail investors. The stock closed around ₹840 on the NSE, valuing the company at over ₹66,000 crore (~$8 billion).
Experts noted this as a positive sign for the IPO market and broader investor confidence in financial services companies. Read full IPO details, price band, and valuation at Moneycontrol’s coverage here.
Crizac IPO sees poor investor response
Unlike HDB, the Crizac IPO received a muted response. By Day 2, overall subscription stood at 1.68 times, with QIB participation below expectations at just 10%. Retail and NII interest remained lukewarm, and the stock’s grey market premium hovered around ₹36–₹39, hinting at a flat or discounted listing. The listing date is set for July 9, but analysts remain cautious due to weak fundamentals and lower demand.
Auto, metal stocks limit market losses
Despite market weakness, sectors like auto and metals offered support. Tata Steel jumped over 5% in the last two sessions, backed by rising global commodity prices. Leading auto players also showed modest gains in anticipation of strong monthly sales numbers. These gains helped cushion losses in key indices.
PSU banks drag down broader indices
PSU banks were the worst-performing sector of the day. The Nifty PSU Bank Index fell nearly 2%, as investors booked profits and showed caution ahead of upcoming earnings announcements. Stocks like SBI, PNB, and Bank of Baroda contributed to the downside.
Conclusion:
The Stock Market Today ended with mixed signals—while benchmark indices fell due to financial weakness, strong IPO listings and sectoral support indicate selective investor confidence. As macroeconomic data unfolds, market direction will likely depend on earnings reports, global cues, and upcoming IPOs.
Stay Connected with Notifire for more fastest and latest updates on Stock Market Today.
