Indian stock markets witnessed a sharp selloff on Thursday, January 8, as weak global cues and geopolitical worries hit investor sentiment hard. The Sensex recorded its steepest single-day fall in more than four months, while broader markets saw even deeper cuts.
The 30-share Sensex closed at 84,180.96, down 780 points or 0.92%. The Nifty 50 slipped 264 points, or 1.01%, to end at 25,876.85. The BSE Midcap and Smallcap indices plunged 2% each, reflecting heavy selling pressure across segments.
Overall, investors lost around ₹8 lakh-crore in a single session as the total market capitalisation of BSE-listed companies fell to below ₹472 lakh crore from nearly ₹480 lakh crore in the previous session.
This was the fourth straight day of losses for frontline indices. Over the past four sessions, the Sensex has fallen 1,581 points, or 1.84%, while the Nifty 50 has declined about 1.72%.
1. Why did the market fall?
Markets were rattled by renewed concerns over US trade action. Reports that US President Donald Trump has backed a Russia sanctions bill, which could impose tariffs of up to 500% on countries buying Russian oil, unsettled investors.
Apart from geopolitical worries, continued foreign fund outflows and caution ahead of Q3 earnings also weighed on sentiment.
2. Top gainers on Nifty 50
Only four stocks ended higher on the Nifty 50: Eternal, SBI Life Insurance, ICICI Bank and Bajaj Finance.
3. Top losers on Nifty 50
Hindalco Industries, Jio Financial Services and ONGC were among the worst hit stocks, losing over 3% each.
4. Sectoral performance
All sectoral indices ended in the red. Nifty Metal fell 3.40%, Oil and Gas dropped 2.84%, PSU Bank declined 2.08% and IT slipped 2%.
Nifty Bank closed 0.51% lower, while the Financial Services index fell 0.65%.
5. Most active stocks by volume
Vodafone Idea, Tata Silver ETF and PC Jeweller were the most traded stocks on the NSE in terms of volume.
6. Stocks with sharp moves
Despite weak sentiment, 12 stocks, including Jindal Photo, National Standard (India) and Global Ocean Logistics India, surged over 15% on the BSE.
On the other hand, Heera Ispat, Captain Technocast, Sirohia & Sons and Broach Lifecare Hospital fell more than 15%.
7. Advance-decline ratio
Out of 4,367 stocks traded on the BSE, 3,158 declined, while only 1,039 advanced. Around 170 stocks remained unchanged.
8. Stocks hitting 52-week highs
A total of 113 stocks touched their 52-week highs, including Eicher Motors, Bajaj Auto and Axis Bank.
9. Stocks hitting 52-week lows
Around 190 stocks slipped to their 52-week lows, including UBL, Page Industries, IRCTC, Siemens Energy India and Colgate Palmolive (India).
10. Nifty technical outlook
According to analysts, the 25,750–25,700 zone will act as a key support for the Nifty. A sustained break below this level could lead to further correction towards 25,550.
On the upside, the 26,000–26,030 range is seen as an immediate hurdle. Experts advise investors to maintain strict risk control amid high volatility and wait for clearer market direction.
(By arrangement with livemint.com)
