Sensex Today | Stock Market Highlights: Sensex plunged 780 points to 84,181 and Nifty fell 264 points to 25,877 as metals and IT stocks led declines. IDFC First Bank, Balaji Amines, and Panacea Biotec bucked the trend with gains.
There was a widespread selling pressure, with 45 of the 50 Nifty stocks ending in the red and market breadth heavily skewed towards declines, with the advance-decline ratio at 1:5. BSE-listed companies erased over ₹8 lakh crore in market capitalisation during the session.
All sectoral indices closed lower. Metals and IT led the decline, with metal stocks falling up to 8% on weaker commodity prices. IT stocks were under pressure ahead of earnings, with Wipro, Tech Mahindra and TCS among the top losers.
The Nifty Bank slipped 304 points to 59,687, while the midcap index plunged 1,200 points to 60,223. Capital goods stocks also came under heavy selling amid reports that Chinese companies may be allowed to participate in government tenders, with BHEL, ABB, Siemens, CG Power and Hitachi Energy among the top losers.
Among stocks against the trend, IDFC First Bank rose 2% after cutting savings account interest rates by up to 200 basis points. Balaji Amines jumped 14% on expectations of state incentives, while Panacea Biotec gained 13% after completing clinical trials for its dengue vaccine.