Sensex Today | Stock Market Highlights: Benchmark indices ended sharply lower for a second straight session, dragged by a broad-based selloff across sectors. The Sensex plunged 1,636 points to close at 71,948, while the Nifty fell 488 points to settle at 22,331, slipping below the 22,400 mark.
Selling pressure was intense, with all Sensex constituents ending in the red except Power Grid. Market breadth remained firmly negative, with the NSE advance-decline ratio at a weak 1:6.
Banking stocks led the decline, with heavyweights like HDFC Bank, ICICI Bank, SBI, and Axis Bank falling up to 5% after the RBI tightened forex norms. Nifty Bank tumbled 1,999 points to end at 50,275, emerging as one of the worst-hit indices. Bajaj Finance and InterGlobe Aviation were also among the top laggards on the Nifty.
Broader markets underperformed the benchmarks, with the Midcap index falling 1,448 points to 52,650. Stocks such as SBI Card, Tata Technologies, Ashok Leyland, RVNL, and Aditya Birla Fashion were among the top losers in the midcap pack. Overall investor wealth took a significant hit, as BSE-listed companies saw their market capitalisation erode by nearly ₹10 lakh crore.
Adding to the negative sentiment, the rupee breached the 95 per dollar mark for the first time, hitting a record low of 95.22 against the US dollar. Meanwhile, crude oil prices continued their upward trajectory, with Brent crude rising above $115 per barrel, weighing on oil marketing companies like HPCL, which fell around 2%.
On the stock-specific front, Jubilant FoodWorks declined over 4% as operations at some outlets were impacted by LPG shortages. Aarti Pharmalabs slipped 3% after the US FDA issued a Form 483 with one observation for its Tarapur Unit-IV. NSDL also remained under pressure, slipping below its IPO price and continuing its streak of negative monthly returns since listing.
Despite the weak market, a few pockets showed resilience. Aluminium stocks gained after geopolitical tensions escalated following Iran’s strike on Bahrain facilities, with Nalco rising around 4%. Sugar stocks rallied up to 11%, tracking the sharp rise in crude oil prices.
Urban Company advanced 4% after its InstaHelp platform crossed 1 million monthly bookings, while IRB Infrastructure Developers emerged as the top midcap gainer, rising nearly 7% after adjusting for its bonus issue.
Overall, it was a risk-off session marked by heavy selling across sectors, sharp losses in financials, and persistent macro pressures weighing on investor sentiment.
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