The Indian benchmark indices, Sensex and Nifty, ended Tuesday’s session with sharp losses after a subdued start. The Sensex closed at 80,737.51, falling 636.24 points or 0.78%, while the Nifty slipped 174.10 points or 0.70% to settle at 24,542.50.
The Nifty Bank index also declined, closing at 55,599.95, down by 0.54%.
Here are 5 key highlights from today’s session:
Afternoon Trade – Markets plunge
Benchmark indices saw a steep decline in the afternoon, following a shaky start. Heavy selling was seen in financials, banking, and IT stocks, dragging down overall market sentiment.
The BSE Sensex was down 740.82 points at 80,632.93, while the NSE Nifty50 slipped 187.65 points to 24,528.95 in the afternoon trade.
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Among the Sensex 30 pack, M&M was the lone gainers.
Key laggards today
The biggest drags on the market today included Adani Ports, Bajaj Finserv, IndusInd Bank, Bajaj Finance, and Power Grid.
Sectoral performance – Gainers and losers
Despite a broadly weak market, a few pockets of strength stood out in today’s trade. Fertilisers led the charge with a 2.53% rise in sectoral market cap. The shipping sector wasn’t far behind, clocking a 2.5% gain. Alcoholic beverages added nearly 2%. Meanwhile, non-ferrous metals advanced 1.7%.
On the losing side, several sectors came under pressure in today’s trade. The infrastructure sector saw the sharpest decline, with a 2% drop in market cap. Glass stocks followed, slipping 2%. The non-alcoholic beverages segment declined 1.6%. Power stocks too were not spared, falling 1%.
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Among business groups, the Arvind Mafatlal Group led the charge with a 4% rise in market capitalisation. The Essar Group followed with a nearly 3% gain, while the Dhanuka Group advanced 2%. The Ruchi Group also moved up 2%, and Vedanta Group saw almost 2% uptick.
On the flip side, several business groups saw a sharp erosion in market value. The ADA Enterprises Group was the biggest laggard, with its market cap falling 4%.
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