Stock Market ends in the red; Sensex loses 500 points
The Indian stock market ended in the red on Tuesday, with the Nifty falling below the 23,900-mark and the Sensex dropping nearly 500 points.
The stock market on Thursday failed to build on the gains recorded in the opening hours and remained rangebound throughout the session.
The final hour selling pressure dragged the Nifty below 25,500 before closing near the day’s low amid selling across sectors.
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At the close, the Sensex was down 148.14 points, or 0.18%, at 83,311.01. On the other hand, Nifty was down 87.95 points, or 0.34%, at 25,509.70. The BSE Midcap index fell 1.2%, and the smallcap index shed 1.5%.
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The overall market capitalisation of BSE-listed firms dropped to below Rs 466 lakh crore from nearly Rs 470 lakh crore.
Among the sectors, only Nifty IT (0.18%) and Auto (0.06%) managed to end in the green.
On the other hand, Nifty Media slipped 2.54%, Metal fell 2.07%, Consumer Durables declined 1.98%, and Realty shed 1.51%, ending with deep losses, while Nifty Bank also fell 0.47%.
On the Nifty50, top gainers included Asian Paints, whose shares rose 4.64%, Reliance Industries, which gained 1.47%, and UltraTech Cement, which added 1.04%.
Further, the shares of Grasim Industries fell 6.42%, Hindalco Industries declined 5.39%, and Adani Enterprises slipped 4.50%, ending as the top losers on the Nifty50.
Out of 4,353 stocks traded on the BSE, 1,202 advanced, while 3,012 declined. Some 139 stocks remained unchanged.
More than 120 stocks touched their 52-week high on the BSE, while 173 stocks fell to their 52-week lows.
Those hitting highs were CCL Products, Paytm, Navin Fluorine, RBL Bank, SBI, Laurus Labs, AU Small Finance Bank, 3M India, Titan Company, Chennai Petro, BPCL, and City Union Bank, among others.
Deepak Nitrite, Clean Science and Technology, Cohance Lifesciences, Crompton Greaves Consumer Electricals, Godrej Agrovet, Jindal Saw, KNR Constructions, Maharashtra Seamless, Tejas Networks, and Vedant Fashions were among the stocks that fell to their 52-week lows.
The market is discounting earnings recovery from Q3 onwards. However, the uncertainties over US tariffs and their economic fallout keep investors cautious.
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