Stock market extends losses, indices loss nearly 1%

The Indian stock market on Thursday extended losses for the second consecutive session amid escalating geopolitical tensions. At close,
the Sensex was down 829.29 points or 1.08% at 76,034.42, and the Nifty was down 227.70 points or 0.95% at 23,639.15.

The Nifty Midcap and Smallcap indices declined 0.4% and 0.7%, respectively.

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The overall market capitalisation of BSE-listed firms dropped to nearly Rs 436 lakh crore from nearly Rs 450 lakh crore.

The Indian rupee depreciated for the second consecutive session to hit a fresh record low of 92.36 against the US dollar. It settled at
92.19, down 16 paise from the previous close.

Amid the ongoing tensions in the Middle East, the shares of Coal India gained over 5% as escalating tensions threaten global energy supplies.

Shares of other energy majors such as Adani Enterprises, NTPC, and Power Grid Corp. of India also remained among the top gainers in the index, up 1.3%-2.8%.

Among the sectors, the key indices on the losing end were Auto index slipped more than 3%, FMCG index shed 1.7% and Private Bank index
declined 1.6%.

Further, the gainers were Power index that gained 2.5%, Energy index rose 2%, Oil & Gas, Metal, Capital Goods rose 0.5% each.

On Nifty, the key losers were Eicher Motors, M&M, Maruti Suzuki, Bajaj Finance, UltraTech Cement. While on the gaining side were Coal India, Jio Financial, Adani Enterprises, NTPC, Power Grid Corp.

More than 360 stocks touched their 52-week low on the BSE. These included Hexaware Technologies, Jubilant Foodworks, Five-Star Business, C E Info Systems, Varun Beverages, Jyothy Labs, Tata Motors Passenger Vehicles, ITC Hotels, Lemon Tree, Trent, KPIT Technologies, Jyoti CNC Auto, Swiggy, Colgate Palmolive, Cera Sanitary, Aegis Logistics, IRCTC, among others.

Globally, the MSCI All-World index edged down 0.3%. Asian markets also traded lower as the MSCI Asia Pacific Index declined 1.3%, while the MSCI Emerging Markets Index dropped 1.3%.