Indian Equity Markets Extend Losses Amid Foreign Fund Outflows and US Visa Fee Concerns

Indian benchmark indices continued their downward trajectory on Thursday, with the Nifty slipping below the 25,000 mark amid persistent foreign fund outflows and investor anxiety over proposed increases to US H-1B visa fees. The Sensex fell 216 points to 81,498.96, while the Nifty 50 declined 68 points to 24,988.65.

Sectoral performance remained weak, with realty stocks leading losses at over 1% decline. IT, auto, FMCG, and pharma sectors also traded lower, while metal, oil & gas, and banking stocks showed relative resilience. Tata Motors, Asian Paints, and Dr Reddy's Laboratories emerged as top drags on the index.

Despite the current weakness, HSBC maintains a bullish long-term outlook, projecting the Sensex could reach 85,130 by end-2025 and 94,000 by end-2026 - representing a potential 13.2% upside from current levels.

Market breadth remained negative with 2,346 declining stocks outpacing 1,621 advances on the BSE. Notably, 117 stocks hit 52-week highs while 79 touched new lows, reflecting continued selectivity in investor appetite.