Sensex falls 300 points; over 900 stocks hit 52-week lows on BSE— 10 key highlights from Indian stock market today

Frontline indices, the Sensex and the Nifty 50, extended losses to the third consecutive session on Wednesday, January 21, amid heightened geopolitical uncertainties, relentless FII selling, and mixed Q3 earnings.

The Sensex fell 271 points, or 0.33%, to end at 81,909.63, while the Nifty 50 settled at 25,157.50, down 75 points, or 0.30%. The BSE Midcap and Smallcap indices lost 1% and 0.80%, respectively.

Investors lost about ₹2 lakh crore in a single session as the overall market capitalisation of BSE-listed firms dropped to ₹454 lakh crore from ₹456 lakh crore in the previous session.

Indian stock market: 10 key highlights from the day

1. What drove the Indian stock market down today?

The Indian stock market witnessed an across-the-board selloff amid persisting geopolitical and geoeconomic uncertainties, relentless FII selling, mixed Q3 earnings, and the rupee's weakness against the US dollar.

"Domestic markets were gripped by volatility as global risk factors dampened sentiment. However, value buying towards the close helped the market recover some early losses," Vinod Nair, Head of Research, Geojit Investments, noted.

"In this challenging environment, tepid earnings from the banking and IT sectors are adding to the overall pressure on equities. The weakening INR and uncertainties surrounding trade ties may prolong this volatility. Nevertheless, the ongoing earnings season could present selective accumulation opportunities as the next session is expected to be better led by the resilient domestic demand," Nair said.

2. Top gainers in the Nifty 50 index

Eternal (up 4.90%), InterGlobe Aviation (up 1.40%), and Max Healthcare Institute (up 1.32%) were the top gainers in the Nifty 50 index.

3. Top losers in the Nifty 50 index

ICICI Bank (down 2.10%), Trent (down 1.98%), and Tata Consumer (down 1.69%) ended as the top losers in the index. As many as 27 stocks ended lower in the index.

4. Over 900 stocks hit 52-week lows

As many as 916 stocks, including ITC, Trent, Dixon Technologies (India), Indian Hotels Company, Havells India, Suzlon Energy, and Tube Investments of India, hit their 52-week lows on the BSE.

5. Nearly 60 stocks hit 52-week highs

Some 59 stocks, including Hindustan Zinc, Muthoot Finance, and SKF India (Industrial), hit their 52-week highs on the BSE.

6. Sectoral indices today

Barring Nifty Metal (up 0.57%) and Oil and Gas (0.27%), all sectoral indices ended lower.

The Consumer Durables index fell nearly 2%, while Nifty Bank and PSU Bank crashed by 1% each.

7. Most active counters in terms of volume

Vodafone Idea (116.25 crore shares), Tata Gold Exchange Traded Fund (86 crore shares), and Tata Silver Exchange Traded Fund (82.4 crore shares) were the most active counters in terms of volume on the NSE.

8. Advance-decline ratio

The advance-decline ratio remained in favour of decliners as over 2,800 stocks declined while about 1,400 advanced on the BSE.

9. Four stocks jump more than 15% on the BSE

Dev Labtech Venture, Parvati Sweetners and Power, Almondz Global Securities, and RLF were the four stocks that defied weak market sentiment and surged over 15% each on the BSE.

10. Seven stocks crash over 15% on the BSE

Oasis Securities, Olympic Cards, Neopolitan Pizza and Foods, Hindusthan Urban Infrastructure, RDB Infrastructure and Power, Optimus Finance, and Promax Power were the seven stocks that crashed more than 15% on the BSE.

Read all market-related news here

Read more stories by Nishant Kumar

Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.