Trade uncertainties, FPI outflows and selling pressure in financial and IT stocks continue to pull the market movement downward.
tanked 740.51 pts or 0.91 per cent to 80,633.24, hitting a low of 80,575.09, and 50 fell 188.10 pts or 0.76 per cent to 24,528.50 as at 12.53 pm.
Smallcap index traded with modest gains, while midcap stocks dipped. Sectoral indices including banking and IT traded in red, while realty index rose close to 2 per cent. Metal and media stocks showed resilience.
Vinod Nair of Geojit Investments stated that the global uncertainties have led investors to adopt a risk-averse approach.
About 1,317 stocks advanced and 1,417 declined among the 2,883 stocks that were traded on the National Stock Exchange at the time of writing.
Top gainers & losers intraday
Shares of Grasim Industries led the gainers of Nifty 50 with 1.29 per cent increase to ₹2,556.60. , Shriram Finance, and inched up to trade as major gainers.
On the flip side, Coal India, Bajaj Finserv and stock declined close to 2 per cent. also dropped 1.50 per cent and NTPC by 1.35 per cent.
In addition, shares slumped 10.31 per cent to ₹20.88, hitting a low of ₹20.71, on issuing clarification pertaining to report Sumitomo Mitsui Banking Corporation (SMBC) stake acquisition. The bank said that it is not privy to discussions in relation to matters stated in the article.
Adani Group stocks — including Adani Enterprises, Adani Ports, Adani Power, ACC, Adani Energy Solutions and — traded in negative territory, as the group denied a report published in the Wall Street Journal that linked it to a fresh investigation by US Authorities over alleged links with Iranian LPG.
ITI, JNK India, Aditya Birla Money were among the 87 stocks that hit upper circuit, while 55 stocks hit lower circuit. 56 shares including , CUB and AXISCADES hit 52-week high. 18 stocks hit 52-week low on the NSE.
Among smallcap, , Radico, Brigade and HSCL soared 3-5 per cent.
Cochin Shipyard, Hindustan Zinc, Prestige Estate, Bharti Hexacom and Federal Bank gained 3-6 per cent among midcap, while Ola Electric tumbled 7 per cent following large block deal. Suzlon and Vodafone Idea shares also depreciated over 3 per cent.
Shares of Sobha, Brigade, Prestige Estate, Lodha and Oberoi Realty led the gainers of real-estate sector.
On the BSE, KIOCL, NFL, Sobha, RCF and Ideaforge rallied 7-10 per cent.