Sensex Falls 180 Points, Nifty Below 24,800; Metal Stocks Tumble in Choppy Trade

Sensex Today Falls 180 Points, Nifty 50 Slips Below 24,800 in Range-Bound Trade; Metal Stocks Bleed

Markets End Lower Amid Volatile Session

Mumbai, May 30, 2025 — Indian equity benchmarks ended Thursday’s session on a weak note, dragged lower by sharp selling in metal and energy stocks, while broader markets traded in a narrow range ahead of key economic data and global cues. The BSE Sensex closed down 180 points or 0.24% at 81,220.76, while the NSE Nifty 50 slipped 55.30 points or 0.22% to settle at 24,788.40, breaching the psychological 24,800 mark.

Sectoral Drag Led by Metal, Energy

Metal stocks witnessed a sharp decline as global commodity prices showed signs of cooling, triggering a sell-off in heavyweight counters. The Nifty Metal index tumbled over 2.1%, with stocks like JSW Steel, Hindalco Industries, and Tata Steel leading the losses. Energy names such as ONGC and Reliance Industries also slipped due to declining crude oil prices and profit-booking at higher levels.

On the flip side, selective buying was seen in FMCG and banking stocks, which cushioned the market from deeper losses. The Nifty Bank index remained relatively resilient, closing flat with a positive bias.

"We’re in a consolidation phase post the recent rally. Sector rotation is evident, and markets are looking for new triggers. With global metal prices under pressure and bond yields rising, risk-off sentiment is creeping into cyclical stocks," said Anuj Kapadia, Senior Equity Strategist at Investrade Research.

Global Cues Remain Cautious

Asian markets were mixed, tracking overnight weakness in U.S. equities as investors reassessed the timing of Federal Reserve rate cuts amid stubborn inflation data. U.S. 10-year Treasury yields hovered around 4.5%, limiting risk appetite in emerging markets.

In Europe, major indices opened lower as Germany’s inflation came in hotter-than-expected, raising questions about the ECB’s rate path. Investors globally remain cautious ahead of the U.S. PCE inflation data and the monthly jobs report due next week.

"Until we get clarity on the Fed’s next move and how inflation data unfolds globally, markets will likely remain range-bound. Indian markets, too, are taking cues from these developments," noted Ritu Jain, Economist at Global Insights Advisory.

Technical Take

From a technical standpoint, analysts suggest that the Nifty 50 is facing stiff resistance near the 24,900–25,000 zone, while immediate support lies at 24,700.

"The Nifty has formed a small bearish candle on the daily chart, indicating a lack of directional momentum. A decisive break below 24,700 may trigger further downside, but a bounce-back from that level is also possible if global cues turn favorable," said Rajesh Sharma, Technical Analyst at ChartBridge Securities.

The Sensex, meanwhile, is seen consolidating in the range of 81,000–82,000 in the near term.

Market Movers: Top Gainers and Losers

Top Nifty Gainers:

• HUL (+1.6%)

• HDFC Bank (+1.2%)

• Britannia (+1.1%)

Top Nifty Losers:

• JSW Steel (–3.8%)

• Hindalco (–3.5%)

• Tata Steel (–2.9%)

• ONGC (–2.2%)

Broader markets were also subdued, with the Nifty Midcap 100 and Smallcap 100 ending marginally in the red.

Rupee, Bond Yields, and Crude Oil Update

The Indian rupee closed slightly weaker at ₹83.39 per dollar, pressured by foreign fund outflows and a strengthening greenback. India’s 10-year bond yield was largely stable at 7.04%, reflecting cautious sentiment ahead of upcoming RBI policy announcements.

International crude oil prices slipped below $82 per barrel, as weak demand forecasts from China and rising U.S. inventories weighed on sentiment. Brent crude futures were last seen trading around $81.80 per barrel.

Investor Outlook: Volatility Likely to Persist

With earnings season drawing to a close and no major domestic triggers in the near term, market participants are expected to track global developments closely. The upcoming RBI monetary policy, due in mid-June, along with macro data like GDP growth and inflation figures, will likely dictate the next market direction.

"We advise investors to maintain a balanced portfolio approach. Accumulating quality stocks on dips—especially in banking and FMCG—may yield benefits in the medium term. Caution is warranted in metals and cyclicals until global trends stabilize," added Meera Thakur, Fund Manager at Zenith Capital.

In summary, while the fall in indices today may not be alarming, it reflects growing nervousness among investors, especially after a strong rally in recent months. Volatility is expected to continue, and selective stock picking will remain key.