Sensex, Nifty 50 fall nearly 1%; investors lose ₹2 lakh crore— 10 key highlights from Indian stock market today

The Indian stock market ended with significant losses on Thursday, May 22, as rising geopolitical tensions, mounting concerns over US debt and stretched valuations of domestic equities drove investors away from riskier equities.

The Sensex closed 645 points, or 0.79 per cent, down at 80,951.99, while the Nifty 50 closed 204 points, or 0.82 per cent, lower at 24,609.70. The BSE Midcap index fell 0.33 per cent, but the BSE Smallcap index rose 0.17 per cent.

Investors got poorer by about ₹2 lakh crore in a single session as the cumulative market capitalisation of BSE-listed firms dropped to nearly ₹439 lakh crore from ₹441 lakh crore in the previous session.

Indian stock market: 10 key highlights from the day

1. What drove the Indian share market down today?

The market appears concerned about the US debt due to the proposed tax bill and its ripple effect on the global economy. Moreover, stretched valuations, mixed earnings, and a lack of clarity on the US-India trade negotiations are also weighing on market sentiment.

"The key benchmark indices witnessed declines amid US fiscal concerns that the proposed budget bill could significantly increase the national debt, pushing US treasury yields higher due to tepid long-term bond demand. Adding to the pressure, a major credit rating agency’s downgrade of the US credit outlook sparked broad-based selloffs across Asian markets," Vinod Nair, Head of Research, Geojit Investments, observed.

"Despite a notable improvement in India’s PMI in May and uptick in fiscal scenario, ongoing uncertainty around US-India trade negotiations and persistent global market volatility are likely to keep Indian equities in a consolidation phase in the near term," Nair said.

2. Top gainers in the Nifty 50 index today

Shares of IndusInd Bank (up 1.76 per cent), JSW Steel (up 0.71 per cent), and Bajaj Auto (up 0.65 per cent) ended as the top gainers.

3. Top losers in the Nifty pack

ONGC (down 1.98 per cent), Mahindra & Mahindra (down 2.42 per cent) and Hindalco Industries (down 2.03 per cent) closed as the top losers. As many as 39 stocks ended as losers in the index.

4. Sectoral indices today

Barring Nifty Media (up 1.11 per cent), all sectoral indices ended with losses. Nifty Auto, FMCG, IT, Consumer Durables and Oil & Gas declined over a per cent each.

Nifty Bank fell 0.24 per cent, while the PSU Bank and Private Bank indices declined 0.58 per cent and 0.22 per cent, respectively. Nifty Financial Services index dropped 0.43 per cent.

5. Most active stocks in terms of volume

Vodafone Idea (39.05 crore shares), Tata Teleservices (27.27 crore shares) and NTPC Green Energy (9.94 crore shares) were the most active stocks in terms of volume on the NSE.

6. Four stocks jump 20% on NSE

Cosmo First, Jay Bharat Maruti, Nahar Poly Films and Ramco Systems were the four stocks that jumped 20 per cent on the NSE.

7. Two stocks crash over 10%

R K Swamy (down 12.15 per cent) and Vadilal Industries (down 11.66 per cent) were the two stocks that crashed more than 10 per cent on the NSE.

8. Over 80 stocks hit upper circuits; over 50 hit lower circuits

Some 84 stocks, including Ramco Systems, Blue Pebble and Coffee Day Enterprises, hit their upper circuits in intraday trade on the NSE.

On the other hand, 53 stocks, including NIBE, Indo Tech Transformers and Teerth Gopicon, hit their lower circuits during the session.

9. Advance-decline ratio

As many as 1,275 stocks advanced, while 1,582 declined and 92 remained unchanged on the NSE.

10. Over 80 stocks hit their 52-week highs

BEL, HDFC Asset Management Company and HDFC Life Insurance Company were among the 82 stocks that hit their 52-week highs in intraday trade on the BSE.

On the flip side, Aditya Birla Fashion and Retail, R K Swamy and Enkei Wheels (India) were among the 34 stocks that hit their 52-week lows during the session.

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