Stock Market Today: Sensex Settles 1,060 Points Lower, Nifty Ends Below 22,000

The Sensex concluded the session with a significant drop of 1,062 points, settling at 72,404, while the Nifty 50 recorded a decline of 335 points, closing at 21,967

India's key stock market gauges experienced a notable downturn on Thursday, as the NSE Nifty 50 slipped beneath the 22,000 mark and the BSE Sensex plummeted by more than 1,000 points, each registering a decline of over 1 per cent during intraday trading. 

The Sensex concluded the session with a significant drop of 1,062 points, settling at 72,404, while the Nifty 50 recorded a decline of 335 points, closing at 21,967. This marks the fifth consecutive day of decline in the market, with various factors such as ongoing elections, lacklustre Q4 results, and escalating crude oil prices attributed to the downturn.

In the last trading session on Wednesday, both indices exhibited minimal movement. The S&P BSE Sensex closed marginally above the 73,450 level, settling at 73,466.39, with a slight decline of approximately 46 points. Similarly, the NSE Nifty50 ended the day virtually unchanged, maintaining its position at 22,302.50.

Stock Update

On the 30-share Sensex platform, notable gainers included Tata Motors, M&M, SBI, Infosys and HCL Tech. Conversely, L&T, Asian Paints, JSW Steel, ITC and Baja Finance, among others, were among the prominent losers.

Among the Nifty 50 shares, only seven stocks, namely Hero MotoCorp, Tata Motors, Mahindra & Mahindra, SBI, Bajaj Auto, Infosys, and HCL Tech, closed the trading session with gains. Larsen & Toubro, BPCL, Asian Paints, Coal India, and ONGC emerged as the top performers, contributing to the downward trend for the day.

Sectoral update

In terms of sectoral performance, the Auto index remained resilient, maintaining its position as the sole sectoral index to conclude the trading session with gains, rising by 0.78 per cent at the close.

However, apart from the Auto index, all other sectoral indices experienced significant losses and closed notably lower. The Volatility Index, VIX, concluded the day with a notable increase of 6.55 per cent.

Rupee Movement

The Indian rupee concluded the trading session on Thursday at 83.51 against the US dollar, slightly lower compared to its Wednesday closing rate of 83.52 per US dollar.

Broader Market

The broader market indices lagged behind the benchmark indices, with the Nifty Small Cap 100 witnessing a decline of 2.83 per cent by the end of the trading session, while the Nifty Midcap 100 recorded a decrease of 1.85 per cent in its closing value.