Indian equities slumped on Tuesday as benchmark indices and broader markets tumbled over 1 percent each, erasing nearly ₹6 lakh-crore in investor wealth in a single day. The fall came after the US announced steep tariffs on Indian-origin goods, triggering risk-off sentiment.
The Sensex closed at 80,786.54, down 849 points or 1.04 percent, while the Nifty 50 slipped 256 points or 1.02 percent to 24,712.05. The BSE Midcap and Smallcap indices dropped 1.34 percent and 1.68 percent, respectively.
1. Why markets fell?
Equities slid after the US Department of Homeland Security issued a draft notice imposing tariffs of up to 50 percent on Indian exports, effective August 27. The move added to concerns over the rupee’s depreciation and potential pressure on foreign flows.
2. Investor wealth wiped out
The total market capitalisation of BSE-listed companies fell to about ₹449 lakh crore from ₹455 lakh crore on Monday, marking a single-day loss of nearly ₹6 lakh crore.
3. Top Nifty losers
Shriram Finance (-4.03 percent), Sun Pharma (-3.35 percent), and Tata Steel (-2.87 percent) were the biggest drags on the index.
4. Top Nifty gainers
Eicher Motors (+2.68 percent), Hindustan Unilever (+2.32 percent), and Maruti Suzuki (+1.85 percent) defied the broader weakness.
5. Sectoral performance
Barring Nifty FMCG (+0.91 percent), all other sectoral indices ended lower. Realty, consumer durables, oil & gas, healthcare, PSU banks and metals fell nearly 2 percent each. Nifty Bank dropped 1.25 percent, while financial services declined 1.35 percent.
6. Most active stocks
Vodafone Idea (138.1 crore shares), Ola Electric (47.1 crore shares), and Eternal (43.8 crore shares) were the most traded by volume on the NSE.
7. Sharp movers on BSE
Eight stocks, including Novateor Research Laboratories, Vision Cinemas and Sayaji Hotels (Pune), plunged more than 10 percent. Meanwhile, 14 stocks such as Gorani Industries and Titan Biotech surged over 10 percent despite weak sentiment.
8. Market breadth
Out of 4,241 stocks traded on the BSE, 1,220 advanced, 2,891 declined, and 130 remained unchanged.
9. 52-week highs and lows
As many as 103 stocks, including Petronet LNG and Jindal Saw, hit 52-week lows. At the same time, 101 stocks such as Maruti Suzuki, Eicher Motors, and Nykaa touched fresh 52-week highs.
10. Technical outlook
Analysts warned of more downside ahead. “The Nifty’s fall below its 50-day EMA and bearish RSI crossover point to sustained selling pressure. As long as it trades below 24,850, the index could slip further towards 24,150 or lower,” said Rupak De of LKP Securities.
(By arrangement with livemint.com)