The Indian stock market continues to face selling pressure as both Sensex and Nifty slip into the red after a positive start, extending its losing streak for the eighth consecutive session.
The Sensex, which touched an intraday high of 76,483.06, plunged sharply to a low of 75,439.64, shedding over 1,000 points during the day. As of now, the BSE Sensex is down more than 500 points, trading at 75,439.64.
Mid & small-cap stocks take a beating
The broader market also saw a steep decline, with the BSE Small-cap index plummeting over 1,000 points, while the BSE Mid-cap index fell over 800 points. Market-wide selling pressure has dragged down all major sectors, with deep cuts seen in media, metal, oil & gas, pharma, realty, consumer durables, and energy stocks, all slipping 2% to 3% in intraday trade.
Big losers on Sensex 30
Most stocks in the Sensex 30 pack are trading lower, with Adani Ports, NTPC, UltraTech Cement, and Sun Pharma leading the losses. Heavyweights like M&M, IndusInd Bank, Tata Steel, Kotak Bank, and Axis Bank are also trading in the red, posting declines of over 1%.
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Adani Ports share price tumbled over 4% in intraday trade, hitting a low of Rs 1,042.15. The stock is currently hovering around Rs 1,065.80, staying close to its 52-week low of Rs 995.65. The company’s market capitalisation stands at Rs 2.30 lakh crore.
Sun Pharma
The pharmaceutical giant Sun Pharma share price also faced sharp selling pressure, with its stocks declining 2.85% during the session. The stock opened at Rs 1,747.35, but continuous weakness pushed it down by Rs 1,685. Over the past five sessions, the stock has lost nearly 2% in value.
NTPC
NTPC shares price dropped over 2%, reflecting the broader market sentiment. In the past five trading sessions, the stock has lost over 3%. Over the last six months, NTPC has shed 24%.
UltraTech Cement
Cement stocks weren’t spared either, as share price of UltraTech Cement fell over 2% in intraday trading. The stock currently trades at Rs 11,311.75, close to its 52-week high of Rs 12,145.35.
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