Following a three-day bull run, the Indian stock market lost steam on Thursday, February 5, as weak global cues triggered broad-based selling across sectors, led by metal stocks.
The Nifty 50 settled at 25,641, down 0.52% from its previous close, while the S&P BSE Sensex ended 0.66% lower at 83,267. The broader market also gave up recent gains. The Nifty Midcap 100 slipped 0.4%, while the Nifty Smallcap 100 fell over 1%, indicating a deterioration in market breadth.
Metal stocks bore the brunt of the selling amid a decline in both precious and base metal prices. The sell-off followed a brief rebound and was compounded by supply concerns, profit booking and a stronger US dollar, pulling the Nifty Metal index down 1%.
Financial stocks also ended the session in the red ahead of the RBI meeting. Meanwhile, the Nifty IT index extended its losing streak, though losses were capped at 0.63% after a 6% crash in the previous session—its biggest intraday fall in four years. On the upside, the Nifty PSU Bank index bucked the broader trend, rising 0.34%.
In Tuesday’s session, Indian equities had logged their biggest intraday jump in nine months, driven by optimism around the India–US trade deal.
Tube Investments, Hexaware lead declines; metal, defence stocks also under pressure
Tube Investments of India topped the laggards list, falling 9.7% to ₹2,381 apiece after the company’s management highlighted weak demand in Europe, delays in the commencement of its railway business, and other challenges during the post-earnings conference call for the October–December period.
The sell-off in Hexaware Technologies shares deepened further, with the stock falling another 7% after the company reported a weak set of numbers for the December quarter.
IDBI Bank, Redington, Valor Estate, MCX, Reliance Infrastructure, and JM Financial were among other stocks in the Nifty 500 pack that fell over 5%.
All major metal counters, including Vedanta, Hindustan Zinc, Hindalco Industries, and National Aluminium, fell between 3% and 4.7%. Defence major HAL witnessed another round of selling pressure, sinking 4.31% to ₹4,035 apiece, the lowest level since April 2025.
Suzlon Energy shares finished 4% lower, ending their three-day winning run after the December quarter performance. Overall, 43 constituents of the Nifty 500 closed with losses of over 3%.
PB Fintech jumps nearly 8%; earnings boost QSR stocks, Force Motors
Among the top gainers, PB Fintech led the list as the stock rallied 7.8% to ₹1,552 apiece. QSR stocks such as Devyani International, Sapphire Foods India and Jubilant FoodWorks surged 7.2%, 7.2% and 5.5%, respectively, following a better-than-expected performance in the December quarter.
Force Motors also reacted strongly to its December quarter numbers, with the stock soaring another 5% to end at a record high of ₹21,074 apiece, extending its bull run to the fourth straight session. During intraday trade, the stock crossed the ₹22,000 mark for the first time.
Trent, Nykaa, DMart, Emami, Welspun Corp and Ather Energy also closed with gains of over 2.7%.
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