Mumbai
On Tuesday, the Indian stock market experienced a sharp decline due to weak global signals, particularly in the PSU banks, metal, and real estate sectors. As a result, the total market capitalization of companies listed on the Bombay Stock Exchange (BSE) fell by approximately ₹9 lakh crore, bringing it down to ₹445 lakh crore.
The Sensex closed at 81,151.27, down 930.55 points or 1.15%. The Nifty finished at 24,472.10, losing 309 points or 1.25%. The Nifty Midcap 100 index decreased by 1503.65 points, ending at 56,174.05, while the Nifty Smallcap 100 index dropped 736.40 points to close at 18,061.00. The Nifty Bank index fell by 705.55 points to 51,257.15.
Selling pressure affected all major sectors, with only 576 stocks gaining while 3,407 declined on the BSE. Most major Sensex stocks ended in the red, except for ICICI Bank and Bharti Airtel. Key losers included BHEL, Coal India, and Tata Motors, while Infosys, ICICI Bank, and Bharti Airtel were the top gainers.
Experts noted that bearish sentiment persisted amid high volatility, particularly impacting small and midcap stocks. They mentioned that the RBI’s recent bulletin confirmed a GDP growth forecast of 7.2% for FY25, indicating that the Q2 slowdown is temporary and consumption is expected to rebound during the festive season.
