Among the sectoral indices, only Nifty Pharma traded in the green, up 1.07 per cent. The losses were led by Nifty Metal, which tumbled 3.5 per cent, followed by Nifty IT, down 1.45 per cent.
VK Vijayakumar has attributed the fall to a combination of factors, including sharp profit-taking, stretched valuations in AI and semiconductor-linked stocks, and elevated leverage in the system.
Analysts said that a combination of defensive buying, strong earnings visibility, export tailwinds, and sector rotation is driving the rally in pharma stocks.
Stocks to Watch today: BEL, IREDA, JSW Infra, Vodafone Idea, Vedanta Aluminium, Craftsman Automation, Delhivery, Bajaj Auto, Bandhan Bank and more will be in focus today.
According to Nuvama Alternative & Quantitative Research, based on current market caps, Vedanta Aluminium (₹184,222 Cr) will be classified as the large cap.
JM Financial said Delhivery is well-positioned for strong growth in the near to medium term, supported by a favourable industry structure.
Garden Reach Shipbuilders & Engineers is a defence public sector undertaking, under the administrative control of Ministry of Defence.
Kirloskar Oil Engines has announced a significant order from HyperNext, a next-generation digital infrastructure company focused on delivering hyperscale-ready, AI-enabled data centre solutions.
Reliance Industries Limited has guided to more than double consolidated Ebitda over the next five years, with a $125-150 billion exports enablement target by 2032.
Amar Deo Singh said that RIL is methodically evolving into a diversified, technology-enabled, green conglomerate deeply aligned with India's Viksit Bharat 2047 vision.
Stocks to Watch today: RIL, RVNL, Voltas, Sun Pharma, TaMo, Bharat Forge, Dalmia Bharat are among other stocks that will be in focus today.
RIL is entering a value unlocking cycle (Jio IPO), capex monetisation phase (New Energy) and platform expansion phase (AI & Retail/FMCG) with clear visibility on Ebitda doubling in 5 years.
Redington share price today: Redington is one of Apple's key distribution and supply chain partners in India. It distributes iPhones, iPads, MacBooks and other Apple products in the country.
Market Crash Today: IT stocks fell up to 8 per cent after Accenture lowered its annual revenue growth forecast. The Nifty IT index crashed 6.4% to 26,634.50 -- its lowest level since April 21, 2023.
Investec noted that gold NBFCs are dependent on the gold price, with negligible volume growth. It expects a 12 per cent gold price appreciation in line with long-term history.
As per the India-UK FTA, New Delhi will be reducing duty on UK whisky and gin from 150 per cent to 75 per cent and further to 40 per cent in the tenth year of the deal.
Kirloskar Ferrous Industries has received a contract valued at approximately $13.51 million from a buyer based in London, United Kingdom.
NSE IPO: New India Assurance will offload up to 10,500,000 equity shares of face value of ₹1 each. The weighted average cost of acquisition of equity shares for the company is ₹0.32.
Notably, JLR, a part of Tata Motors, said that it is targeting medium-term double-digit revenue growth and increase focus on the North America market.
Motilal Oswal has reiterated a 'Buy' rating on BEL stock with an unchanged target price of ₹510, based on the 45x two-year forward earnings.