FOREX
Market rout deepens: Sensex tanks 783 points, metal stocks under pressure
Indian equity benchmarks extended their losses in afternoon trading on Thursday, with the BSE Sensex plunging 782.84 points to 79,595.29 and the NSE Nifty dropping 262.10 points to 24,221.95, marking a decline of 0.97 per cent and 1.07 per cent respectively.
Metal and technology stocks led the downturn, with Hindalco Industries emerging as the biggest laggard, tumbling 8.00 per cent. Other major losers included Trent (-4.61 per cent), Grasim Industries (-3.00 per cent), Tech Mahindra (-2.59 per cent), and Adani Enterprises (-2.41 per cent).
Bucking the negative trend, Apollo Hospitals Enterprise surged 6.18 per cent, followed by State Bank of India gaining 0.82 per cent. Tata Steel, HDFC Life, and Larsen & Toubro also managed to stay in the green, adding 0.44 per cent, 0.38 per cent, and 0.16 per cent respectively.
The broader market showed mixed signals, with 1,963 stocks advancing against 1,868 declines on the BSE. A total of 3,965 stocks were traded, with 134 remaining unchanged. The market witnessed 226 stocks hitting their 52-week highs, while 11 touched their 52-week lows. Additionally, 321 stocks hit the upper circuit limit, and 199 reached the lower circuit.
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Key sectoral indices reflected the market’s bearish sentiment. The Nifty Bank declined by 359.35 points to 51,958.05, while the Nifty Financial Services index fell by 232.30 points to 23,948.90. The Nifty Next 50 dropped 577.05 points to 70,812.75, and the Nifty Midcap Select index shed 36.55 points to reach 12,618.40.
The market had opened lower at 80,563.42 on the Sensex and 24,489.60 on the Nifty, following the previous day’s close of 80,378.13 and 24,484.05 respectively. This downward trajectory intensified during morning trades, with selling pressure visible across most sectors.
The current market weakness comes amid ongoing concerns about potential U.S. policy shifts and their global implications, particularly following earlier assessments of Trump’s re-election prospects and anticipated Federal Reserve policy decisions.
