Sensex falls 500 points, investors lose over ₹3 lakh crore in a day— 10 key highlights from Indian stock market today

The Indian stock market suffered significant losses across segments on Tuesday, December 16, as the rupee fell to record low levels and weak global cues kept the market under pressure. The Sensex closed the day with a loss of 534 points, or 0.63%, at 84,679.86, while the Nifty 50 settled at 25,860.10, down 167 points, or 0.64%. The BSE Midcap index fell 0.78% while the Smallcap index declined 0.69%.

Investors lost over ₹3 lakh crore in a single session as the overall market capitalisation of BSE-listed firms dropped to ₹467.6 lakh crore from ₹471 lakh crore in the previous session.

Indian stock market: 10 key highlights from the day

1. Why did the Indian stock market fall today?

The major reason behind the market fall is the weakness of the Indian rupee. The rupee is at 91 against the US dollar, raising concerns over the prospects of recovery in the domestic market. Weak global cues and foreign capital outflows remain other key reasons.

"Continued INR weakness to fresh record lows, driven by persistent FII outflows and subdued global sentiments, dragged domestic markets into negative territory," Vinod Nair, Head of Research, Geojit Investments Limited, noted.

"Volatility is expected to remain elevated amid currency fluctuations and uncertainty over foreign inflows. Progress on the US–India trade deal and rupee stabilisation will be critical, while softer commodity prices and improving earnings visibility provide a constructive medium-term backdrop," said Nair.

2. Top gainers in the Nifty 50 index

Only 11 stocks managed to end in the green in the Nifty 50 index, among which Bharti Airtel (up 1.70%), Titan Company (up 1.65%), and Tata Consumer Products (up 1.26%) ended as the top gainers.

3. Top losers in the Nifty 50 index

Shares of Axis Bank (down 5.12%), Eternal (down 4.67%), and JSW Steel (down 2.66%) ended as the top losers in the index.

4. Sectoral indices today

Nifty Bank fell 0.72% while the Financial Services index declined 0.79%. Nifty Private Bank and Realty indices suffered losses of 1.23% and 1.29%, respectively.

PSU Bank (down 0.89%), IT (down 0.84%), and Oil and Gas (down 0.77%) also lost significantly.

5. Most active stocks in terms of volume

Vodafone Idea (71.3 crore shares), Meesho (17.2 crore shares), and Tata Teleservices (Maharashtra) (13.3 crore shares) were the most active stocks in terms of volume on the NSE.

6. Eight stocks jump more than 15% on BSE despite stock market weakness

Amines and Plasticizers, Asahi Songwon Colors, Ampvolts, Shish Industries, PMC Fincorp, Tilak Ventures, Agri- Tech (India), and EPACK Durable were the eight stocks that jumped more than 15% on the BSE.

On the flip side, Fabino Enterprises, Chemkart India, Allcargo Terminals, Unifinz Capital India, and Patel Engineering-RE were the five stocks that crashed more than 15% on the BSE.

7. Advance-decline ratio

Out of 4,335 stocks traded on the BSE, 1,654 advanced, while 2,523 declined. Some 158 stocks remained unchanged.

8. 103 stocks hit 52-week highs

Vedanta, Hindustan Zinc, and Ashok Leyland were among the 103 stocks that hit their 52-week highs.

9. 139 stocks hit 52-week lows

ACC, REC, Petronet LNG, Page Industries, and Mankind Pharma were among the 139 stocks that hit their 52-week lows on the BSE.

10. Nifty's technical outlook

Shrikant Chouhan, the head of equity research at Kotak Securities, said that although the intraday market texture is weak, a fresh selloff is possible only after the dismissal of 25,800. Below this level, the market could retest the levels of 25,700–25,650.

Chouhan believes 25,920 would be the immediate resistance for day traders. If the index succeeds in trading above this level, then it could bounce back to 26,050–26,100.

Hrishikesh Yedve, AVP Technical and Derivative Research at Asit C. Mehta Investment Interrmediates Ltd, pointed out that the Nifty formed a bearish candle on the daily chart.

According to Yedve, trend line support for Nifty is placed near the 25,750 level, while the 50‑DEMA support is placed near 25,760.

"A firm break below 25,750 could extend the weakness. On the upside, 26,100 will act as an immediate hurdle, followed by 26,325. Thus, short-term traders are advised to book profits on bounce," said Yedve.

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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.