Mumbai: Indian equity markets saw a sharp decline on November 18, closing in the red after broad-based selling across key sectors. The Sensex fell 277 points to end at 84,673, while the Nifty slipped 103 points to close at 25,910. Out of the 30 Sensex stocks, 23 declined and only seven managed to register gains, reflecting a weak trading session overall.
Finance, IT, and auto shares were among the worst hit. Tech Mahindra dropped 2.21 percent, and Infosys declined 1.33 percent, contributing significantly to the market’s downtrend.
PhysicsWallah Debuts with Strong Listing Gains
In contrast to the negative sentiment, EdTech company PhysicsWallah delivered an impressive market debut on the NSE. The stock listed at Rs 145, a 33 percent premium over its IPO price of Rs 109. By market close, it had surged further to Rs 156, giving investors a remarkable 43 percent return in just one day.
Global Markets Add Pressure on Domestic Indices
Weak global cues weighed heavily on Indian markets.
In Asia, Japan’s Nikkei fell 3.22 percent to 48,702, South Korea’s Kospi dropped 3.32 percent to 3,953, and Hong Kong’s Hang Seng declined 1.72 percent to 25,930.
US markets also retreated on November 17, with the Dow Jones slipping 1.18 percent to 46,590, while the Nasdaq Composite and S&P 500 fell 0.84 percent and 0.92 percent, respectively. These global declines added to the cautious sentiment among Indian investors.
FIIs Continue to Sell While DIIs Remain Supportive
Foreign institutional investors (FIIs) bought Rs 771 crore worth of equities on November 17, while domestic institutional investors (DIIs) purchased Rs 1,200 crore. However, for the month so far, FIIs have sold Rs 13,210 crore, whereas DIIs have absorbed the pressure by buying Rs 42,817 crore worth of shares.
Excelsoft Technologies IPO to Open on November 19
Excelsoft Technologies Rs 500 crore IPO will open on November 19 and close on November 21. The issue includes a Rs 180 crore fresh issue of 1.50 crore shares and a Rs 320 crore OFS of 2.67 crore shares. The price band has been set at Rs 114–Rs 120 per share.
Yesterday’s Session Saw Gains
Just a day earlier, on November 17, markets had witnessed a strong rally. The Sensex had closed 388 points higher at 84,950, while the Nifty ended 103 points up at 26,013, highlighting the volatility dominating the current market environment.
