New Delhi, 24 October (H.S.): The Indian stock market's impressive six-day winning streak came to a halt on Friday, as benchmark indices succumbed to profit-taking after a firm start. The market witnessed significant volatility throughout the session, ultimately closing in negative territory. The S&P BSE Sensex ended the day down 344.52 points, or 0.41%, at 84,211.88, while the NSE Nifty 50 index fell 96.25 points, or 0.37%, to close at 25,795.15.
Despite a positive opening, the indices failed to sustain their upward momentum. The Sensex opened at 84,667.23 and touched an intraday high of 84,707.44 before selling pressure dragged it to a low of 83,957.15. Similarly, the Nifty 50, after reaching a high of 25,944.15, reversed course and hit an intraday low of 25,718.20. A modest recovery in the final hour of trading helped the indices pare some of their losses.
The market downturn resulted in a significant erosion of investor wealth. The total market capitalization of companies listed on the BSE declined by approximately ₹1.33 lakh crore, settling at ₹468.97 lakh crore. The broader market also felt the pressure, with the BSE MidCap and SmallCap indices closing with losses of 0.26% and 0.19%, respectively.
Sectoral performance was mixed. While the Metal and Telecom sectors saw sustained buying interest, others like FMCG, Banking, and Consumer Durables faced considerable selling pressure.
Top Gainers:
Key stocks that bucked the trend included Hindalco Industries, which surged by 4.04%, followed by Bharti Airtel (1.07%), ONGC (1.05%), and ICICI Bank (1.03%).
Top Losers:
On the losing side, Cipla dropped by 3.69%, and Hindustan Unilever fell by 3.27%. Other major laggards were Max Health Care, UltraTech Cement, and Adani Ports.
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Hindusthan Samachar / Jun Sarkar
