Stock market ends lower in volatile session amid selling across sectors

The stock market on Friday failed to build on the previous session’s strong rebound and ended lower in a volatile session amid selling across sectors.

At the close, the Sensex fell 769.67 points, or 0.94%, at 81,537.70, while the Nifty dropped 241.25 points, or 0.95%, at 25,048.65. The BSE midcap index fell 1.5%, and the smallcap index fell over 2%.

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The overall market capitalisation of BSE-listed firms dropped to below Rs 452 lakh crore from Rs 458.5 lakh crore in the previous session.

All the sectoral indices ended in the red with capital goods, power, realty, PSU Bank, and media down 2-3%.

The Indian rupee remained under pressure, touching a fresh record low at 91.97 per dollar intraday.

The biggest Nifty losers were Adani Enterprises, Adani Ports, Eternal, Interglobe Aviation, Cipla, while gainers included Dr Reddy’s Labs, Tech Mahindra, ONGC, Hindalco, and HUL.

Over 400 stocks touched their 52-week lows on the BSE. These included Adani Enterprises, Adani Total Gas, Syngene International, Reliance Power, Lodha Developers, Tejas Networks, Premier Energies, Network 18, Godrej Properties, Just Dial, Piramal Pharma, Devyani International, Sapphire Foods, Blue Jet, HFCL, Afcons Infra, Brigade Enterprises, Honeywell Automation, DLF, Sterling Wilson, among others.

Shares of Paytm dropped nearly 10%, hitting a three-month low.

Among the real estate stocks, Lodha Developers, Godrej Properties, DLF, and Oberoi Realty declined by up to 5%.

Shares of InterGlobe Aviation slipped in early trade with the stock down 1.96% at Rs 4,813.

Asian markets traded higher, with Japan’s Nikkei 225 gaining 0.25% and the Topix rising 0.27%. South Korea’s Kospi rose 1.11%, while the Kosdaq gained 0.74%. Hong Kong Hang Seng index futures indicated a higher opening.

The market will remain shut on Monday, January 26, on account of Republic Day.