Closing Bell: Bloodbath on D-Street! Sensex falls 1,342 points, Nifty ends below 24,000 amid global tensions

Equity benchmark indices closed sharply lower on Wednesday amid persistent pressure linked to the ongoing Iran–US–Israel tensions and weak global cues.

The 30-share BSE Sensex declined 1,342.27 points or 1.72 per cent to settle at 76,863.71. The broader Nifty 50 dropped 394.75 points or 1.63 per cent to close at 23,866.85, slipping below the 24,000 mark.

Markets opened on a flat note but soon turned volatile and moved lower during the session. Sectoral indices showed a mixed trend with a negative bias. Auto, banking, financial services, FMCG, IT and private banking stocks traded lower and weighed on the benchmarks.

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However, media, metal, pharma, realty and midcap indices advanced, indicating selective buying interest in defensive and commodity-linked stocks.

Top Gainers and Losers

Among Sensex constituents, Sun Pharmaceutical Industries rose 0.41 per cent, and NTPC gained 0.32 per cent to emerge as the top gainers. Power Grid Corporation of India, ITC and Tata Steel ended with marginal losses.

On the other hand, Bajaj Finance tumbled 5.14 per cent to become the biggest laggard. Axis Bank dropped 4.64 per cent, Bajaj Finserv fell 3.78 per cent, and Mahindra & Mahindra declined 3.68 per cent. Kotak Mahindra Bank, Maruti Suzuki India, Bharti Airtel, Asian Paints and Bharat Electronics were also among the major losers.

Nifty Broad Market Indices

Broader markets also ended lower on Wednesday in line with the benchmarks. The Nifty 50 declined 1.63 per cent, while the Nifty Next 50 fell 1.08 per cent. Midcap indices were under pressure with the Nifty Midcap 100 dropping 1.25 per cent and the Nifty Midcap 150 slipping 1.14 per cent.

In the small-cap space, the Nifty Smallcap 50 declined 0.55 per cent, while the Nifty Smallcap 100 and Nifty Smallcap 250 fell 0.36 per cent and 0.39 per cent, respectively. The broader Nifty 100, Nifty 200 and Nifty 500 also ended lower, indicating weakness across the wider market.

Nifty Sectoral Indices

Sectoral indices mostly ended lower on Wednesday. The Nifty Auto dropped 3.15 per cent, while the Nifty Bank declined 2.13 per cent and the Nifty Financial Services fell 2.32 per cent. The Nifty Private Bank slipped 2.41 per cent, while the Nifty PSU Bank lost 1.83 per cent.

Other sectors such as Nifty IT, Nifty FMCG, Nifty Realty and Nifty Chemicals also ended in the red. However, Nifty Pharma gained 0.41 per cent, while Nifty Healthcare and Nifty Oil and Gas closed with marginal gains.

Stock Market Update

Market breadth remained negative on the NSE on Wednesday. Out of 3,299 stocks traded, 1,339 advanced while 1,870 declined and 90 remained unchanged. A total of 32 stocks hit their 52-week highs, while 133 touched 52-week lows.

As many as 79 stocks were locked in the upper circuit, whereas 51 stocks hit the lower circuit. The overall market capitalisation on the NSE stood at Rs 440.37 lakh crore.

The benchmark indices had rebounded on Tuesday, snapping a two-day losing streak after US President Donald Trump signalled that the ongoing conflict with Iran could end soon. However, continued geopolitical uncertainty kept investors cautious on Wednesday.