Sensex, Nifty drop in early trade dragged by ITC stake sale reports
The Hindu
Equity indices Sensex and Nifty fall due to ITC stake sale reports, while global markets show positive trends.
Equity benchmark indices Sensex and Nifty dropped in early trade on Wednesday (May 28, 2025), dragged by ITC amid stake sale reports.
The 30-share BSE benchmark gauge Sensex declined 200.32 points to 81,351.31 in early trade. The NSE Nifty dipped 61.2 points to 24,765.
From the Sensex firms, ITC, IndusInd Bank, Nestle, Titan, Kotak Mahindra Bank, Mahindra & Mahindra, Reliance Industries and Maruti were among the laggards.
ITC dropped over 3% amid reports that British American Tobacco (BAT), the largest shareholder in ITC Limited, is gearing up to sell part of its stake in the diversified conglomerate via the block deal route and intends to dilute its 2.3% stake this time.
Infosys, Eternal, Tata Motors, Tech Mahindra, Bharti Airtel and Tata Consultancy Services were among the gainers.
“BAT’s decision to sell a 2.3% stake in ITC will keep the stock subdued,” V.K. Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.
In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index and Shanghai’s SSE Composite index were trading in the positive territory while Hong Kong’s Hang Seng quoted lower.
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