Market Closing Bell: Sensex Plunges 539 Points and Nifty Slips Below 24,100 Amid Heavyweight Selling, HDFC Drops Over 2%
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Indian benchmark indices faced persistent selling pressure during Thursday's trading session, closing deep in the red as losses in heavyweight blue-chip counters dragged down market sentiment. Despite easing crude oil prices globally, the broader market struggled on monthly expiry day, with investors engaging in widespread profit-booking across key sectoral indices.
Benchmark Indices Slip as Heavyweights Witness Selling Pressure
The 30-share BSE Sensex tumbled 539.35 points or 0.70 percent to settle at 76,933.59. Throughout the session, the benchmark experienced high volatility, swinging 761.38 points between an intraday high of 77,694.97 and a low of 76,933.59. Similarly, the broader NSE Nifty declined 116.90 points or 0.48 percent to close below the psychological threshold at 24,090.85.
Market breadth remained mixed across secondary segments. While the BSE MidCap Select Index dropped 89 points (0.47 percent), the BSE SmallCap Select Index ended flat with a marginal gain of 0.01 percent. Sector-wise, Nifty PSU Bank and Nifty Metal faced notable corrections, shedding 0.94 percent and 0.86 percent respectively, whereas Nifty Pharma emerged as a relative outperformer.
Top Gainers and Laggards on Sensex and Nifty
Selling pressure was heavily concentrated in market heavyweights including HDFC Bank, Reliance Industries, Bharti Airtel, NTPC, and HCL Technologies. HDFC Bank shares dropped 2.08 percent, significantly weighing down the financial index. On the flip side, select banking and tech counters provided a cushion, with Kotak Bank surging 1.71 percent to lead the Sensex gainers alongside ICICI Bank, Tech Mahindra, BEL, and Adani Ports. Overall, out of the 30 Sensex companies, only 6 closed in the green while 24 settled in negative territory.
Rupee Weakens Against Resurgent US Dollar
Adding to macroeconomic headwinds, the Indian rupee traded lower against the US dollar, depreciating by about 0.13 percent to settle at 95.53. The currency came under pressure as the international Dollar Index climbed back above the 99 mark following renewed technical support, keeping emerging market currencies on edge.
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