Sensex Falls 170 Points, Nifty Slips Below 25,400 as Banking and IT Stocks Drag Markets
GG News Bureau
Mumbai, 19th Sept: The Indian stock market witnessed sharp selling pressure on Friday, September 19, 2025, as both benchmark indices opened lower, weighed down by heavy losses in banking, IT, and FMCG stocks. The negative sentiment comes on the last trading day of the week, reflecting global uncertainty and investor caution.
At the opening bell, the BSE Sensex fell 170 points, pulling the 30-share index into the red. Similarly, the NSE Nifty 50 slipped below the 25,400 mark, setting a weak tone for the day’s trade. Despite some resilience in auto and pharma counters, overall market sentiment remained bearish, with broad-based selling dominating.
Banking and IT Under Pressure
Among sectoral indices, banking and IT stocks were the biggest drags, pulling the markets lower. Heavyweights such as HDFC Bank, ICICI Bank, Infosys, and TCS registered early losses, contributing significantly to the decline in benchmark indices.
Market analysts suggest that concerns over rising U.S. bond yields and foreign portfolio outflows are pressuring domestic equities. Additionally, weak cues from global markets have added to investor anxiety, particularly in interest rate-sensitive sectors like banking.
Weakness in FMCG and Metals
Apart from banking and IT, FMCG and metal stocks also witnessed selling pressure. Leading FMCG majors like Hindustan Unilever and ITC opened lower, while metal giants Tata Steel and JSW Steel also traded in the red. Analysts believe that profit booking after recent gains and concerns about global demand have triggered weakness in these segments.
Auto and Pharma Provide Some Support
In contrast, auto and pharma stocks offered marginal support to the markets. Select stocks in these sectors, including Mahindra & Mahindra and Dr. Reddy’s Laboratories, managed to trade in positive territory, preventing a steeper fall. However, the gains were too limited to offset the broad-based selling across other sectors.
Rise in Net Direct Tax Collection
In a positive development, government data revealed that net direct tax collections have risen by 9% so far this fiscal, reaching ₹10.82 lakh crore. This uptick indicates improved tax compliance and steady corporate earnings, offering a degree of reassurance about the broader economy.
Economists suggest that strong tax revenues may provide the government with more fiscal room to boost capital expenditure, which could help support long-term market growth. However, the immediate pressure on equities remains a concern for investors.
Investor Sentiment and Outlook
Market experts advise caution as volatility is expected to continue amid global economic uncertainty, crude oil price fluctuations, and foreign institutional investor (FII) activity. Traders are likely to remain watchful of U.S. Federal Reserve signals, which could shape global liquidity trends.
“Banking and IT stocks are leading today’s correction, and unless there is recovery in heavyweight sectors, the indices may continue to face pressure. However, strong fundamentals of the Indian economy remain intact,” said a market strategist at a leading brokerage.
