New Delhi, 08 September (H.S.): The domestic stock market came under renewed pressure for the second consecutive day on Tuesday as continuing tensions in West Asia and a sustained rise in international crude oil prices rattled investor sentiment. The anxiety gripping global equity markets was also visible in India. The Sensex plunged as much as 579.46 points during intra-day trading, while the Nifty also declined by as much as 156.05 points. At the close of trading, the Sensex was down 0.73 per cent and the Nifty declined 0.61 per cent. The market downturn eroded investors’ wealth by approximately Rs 1.47 lakh crore during the day.
The BSE Sensex opened at 75,970.28 points, down 162.53 points, or 0.21 per cent. Soon after the opening, buying support helped the index recover by more than 40 points, taking it to 76,012.11 points. However, selling pressure subsequently intensified, sending the Sensex steadily lower. Although buyers made several attempts during the session to revive purchasing momentum, the negative global sentiment kept selling pressure so strong that none of these efforts could gain sustained traction.
Amid continued selling across stocks, the index fell to an intra-day low of 75,553.35 points shortly before the close, marking a decline of 579.46 points, or 0.76 per cent. In the final phase, modest buying linked to intra-day settlement helped the Sensex recover marginally from its low. It eventually closed at 75,577.58 points, down 555.23 points, or 0.73 per cent.
Similarly, the NSE Nifty opened at 23,743.10 points, down 36.05 points, or 0.15 per cent. Buying support immediately after the market opened helped the index recover by around 15 points from its opening level, taking it to 23,758.95 points. Thereafter, sustained selling emerged across the market, gradually weakening the Nifty’s trajectory.
Persistent selling dragged the index to an intra-day low of 23,623.10 points shortly before the end of trading, representing a decline of 156.05 points, or 0.66 per cent. Buying towards the end of the session, driven by the settlement of day trades, provided limited support and helped the Nifty recover slightly from its low. The index finally closed at 23,635.10 points, down 144.05 points, or 0.61 per cent.
During the day, heavy selling was witnessed in banking, oil and gas, IT, consumer durables and metal stocks. In contrast, capital goods, healthcare and media stocks witnessed sustained buying interest. The FMCG, public sector enterprises and automobile indices also closed in positive territory. The broader market also witnessed continued buying, with the Nifty Midcap Index gaining 0.21 per cent and the Smallcap Index advancing 0.17 per cent.
The market decline reduced the wealth of stock market investors by approximately Rs 1.47 lakh crore. The market capitalisation of companies listed on the BSE fell to Rs 486.25 lakh crore (provisional) after Tuesday’s trading session, compared with Rs 487.72 lakh crore at the close of the previous trading session on Monday. Thus, investors suffered an estimated loss of around Rs 1.47 lakh crore during the day.
A total of 4,609 stocks were actively traded on the BSE during the session. Of these, 2,096 closed higher, while 2,291 declined and 222 remained unchanged. On the NSE, 3,256 stocks witnessed active trading, with 1,492 closing in positive territory and 1,764 ending lower. Among the 30 Sensex constituents, nine stocks advanced and 21 declined. Of the 50 Nifty constituents, 17 closed in the green, 31 in the red and two remained unchanged.
Among the major stocks, Bharat Electronics gained 1.62 per cent, Hindustan Unilever 1.02 per cent, ONGC 0.98 per cent, Eicher Motors 0.98 per cent and Adani Ports 0.93 per cent, making them the top five gainers of the day.
On the other hand, SBI Life Insurance declined 2.04 per cent, ICICI Bank 1.97 per cent, Axis Bank 1.67 per cent, UltraTech Cement 1.49 per cent and Larsen & Toubro 1.32 per cent, placing them among the top five losers of the day.
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Hindusthan Samachar / Jun Sarkar
