Stock Market Today: Sensex Sheds 873 Points, Nifty Ends Below 24,700; All Sectors In Red

Broader indices mirrored the weakness, with the Nifty Midcap and Smallcap indices shedding between 1 per cent and 1.6 per cent. All sectoral indices ended in the red

Volatility edged up slightly, with the India VIX rising to 0.12 per cent, signaling cautious sentiment among investors

Source : ABPLIVE AI

Indian benchmark indices ended sharply lower on Tuesday, with the Sensex plunging over 800 points and the Nifty slipping below the 24,700 mark, as broad-based selling pressure gripped the markets.

At close, the BSE Sensex dropped 872.98 points, or 1.06 per cent, to settle at 81,186.44, while the NSE Nifty declined 261.55 points, or 1.05 per cent, to end at 24,683.90. Market breadth was negative, with 2,415 stocks declining against 1,398 advancing. A total of 127 stocks remained unchanged.

Broader Market Update

Broader indices mirrored the weakness, with the Nifty Midcap and Smallcap indices shedding between 1 per cent and 1.6 per cent. All sectoral indices ended in the red, led by steep losses in the auto segment.

Volatility edged up slightly, with the India VIX rising to 0.12 per cent, signaling cautious sentiment among investors.

Sundar Kewat, Technical and Derivatives Analyst, Ashika Institutional Equity, noted, "The Nifty opened flat at 24,996 and briefly touched a high of 25,010 before witnessing a sharp sell-off, sliding to a low of 24,676—currently trading near the day’s lowest level. The weakness was widespread, with all sectoral indices closing in the red. The worst-hit sectors included Automobile, Consumption, Healthcare, Media, and Financial Services, reflecting heavy profit booking. The broader market also faced significant pressure, with the Nifty Midcap 100 plunging 1.64 per cent and the Nifty Small cap 250 declining 0.85 per cent."

"On the derivatives front, the market breadth was extremely weak, with only 18 stocks advancing against 202 declining. Open interest spurt was seen in RBL Bank, Zydus Life, DLF, Astral, and Hindalco. The highest open interest buildup on the call side is at 25,000, while put writing is concentrated at 24,500 and 24,000, indicating key support zones ahead. The Put-Call Ratio (PCR) dropped to 0.48," he added.

Rupee Movement

The Indian rupee weakened by 21 paise on Tuesday to close at 85.63 (provisional) against the US dollar, weighed down by a stronger greenback and persistent foreign fund outflows.