The Nifty 50 and Sensex have both experienced a decline this week, with the Nifty 50 falling by 1.8 percent and the Sensex by 1.4 percent. This marks the fourth consecutive weekly loss for both indices, which is the longest losing streak since August 2023.

IndusInd Bank has been the worst performer on the Nifty 50, with a 15 percent drop in its stock price. This decline is attributed to a 40 percent year-on-year decrease in Q2FY25 net profit, which is due to a significant increase in loan loss provisions.

On the other hand, ITC has seen a surge in its stock price, increasing by over 4 percent. This growth is driven by strong growth in cigarette volumes and a thriving hotel business following an impressive Q2 performance.

As of 9:45 AM, the Sensex was down 215 points, or 0.3 percent, at 79,849, while the Nifty fell 85 points, or 0.4 percent, to 24,314. Market breadth showed 741 shares advancing against 2,112 declining, with 113 remaining unchanged. Analysts predict that the market may continue to face pressure, with expectations of a further downside of 3-5 percent due to ongoing selling by Foreign Institutional Investors (FIIs).