Market Takes a Hit: Sensex Sinks 528 Points

Mumbai, January9, 2025: The BSE Sensex continued its downward trajectory on Thursday, plunging 528.28 points to close at 77,620.21, weighed down by weak global market trends. The National Stock Exchange (NSE) Nifty also fell sharply, losing 162.45 points to settle at 23,526.50.

The Sensex began the session on a positive note, gaining 58 points in early trade, marking its day’s high. However, it reversed gains as the session progressed, touching a day’s low of 77,542.92 before closing lower by 528.28 points from the previous day’s close. Similarly, the Nifty recorded an intraday high of 23,689.50 and a low of 23,503.05, reflecting the market’s volatility.

The key sectors that exerted pressure on the market were Oil and Gas, which declined by 2.19%, Energy by 1.89%, Industrials by 1.51%, and Utilities by 1.43%. The broader market also witnessed weakness, with the Mid-cap index slipping 0.96% and the Small-cap index declining 1.17%.

Out of the 30 Sensex components, 21 stocks ended in the red, while only 9 advanced. Notable losers included Zomato, which dropped 2% to Rs 245, Tata Steel, which fell 1.96% to Rs 130, NTPC, which declined 1.64% to Rs 320, and L&T and Tata Motors, both of which shed 1.62% to close at Rs 3,538 and Rs 782, respectively.

On the positive side, Nestle India emerged as the top gainer, rising 1.87% to Rs 2,260.55. Other gainers included Hindustan Unilever, up 1.55% to Rs 2,436.70, Mahindra & Mahindra (M&M), which gained 1.40% to Rs 3,128, and Kotak Mahindra Bank, which advanced 1.26% to Rs 1,791.

The global market sentiment added to the bearish tone, with major Asian indices also trading in the red. The Hang Seng index fell by 0.20%, the Taiwan Weighted index slipped 1.41%, and the Strait Times index declined by 0.63%.

Market analysts attributed the decline to negative global cues, investor concerns over rising energy prices, and cautious sentiment ahead of corporate earnings. The decline in heavyweight sectors such as Energy and Industrials further contributed to the market’s slide. With the ongoing uncertainty in global markets, investors are advised to remain cautious and focus on sectors with robust fundamentals to navigate the current volatility.