Market failed to hold on to early gains and ended 1.5 per cent lower in the volatile session on Thursday with Nifty closing below 24,000.
At close, Sensex was down 1,190.34 points or 1.48 per cent at 79,043.74, and the Nifty was down 360.70 points or 1.49 % at 23,914.20.
Nifty reached a peak of 24,345.75 and a low of 23,873.35. Meanwhile, the Sensex fluctuated between 80,447.4 and 78,918.92.
Broader market managed to weather today’s sell-off, with both the Nifty Midcap 100 and Nifty Smallcap 100 ending the session flat.
Investors’ wealth eroded by around Rs 92,801 crore, as the market capitalization of BSE-listed companies slipped to Rs 443.55 lakh crore
On Nifty, the top gainers were Adani Enterprises (1.64 per cent ), Shriram Finance (0.82 per cent ), State Bank of India (0.57 per cent ), Cipla (0.11 per cent ) among others.
While on the losing side were SBI Life Insurance Company (5.10 per cent), Infosys (3.53 per cent ), Mahindra & Mahindra (3.53 per cent ), HDFC Life Insurance Company (3.36 per cent) and Bajaj Finance (2.92 per cent).
On BSE, around 200 stocks touched their 52-week high.
These included KEC International, EID Parry, Laurus Labs, Paytm, Caplin Labs, eClerx Services, HDFC Bank, among others.
Among the sectoral indices, the Nifty IT index ended down by over 2 per cent. This was followed by Nifty Auto, Financials, Private Bank, Consumer Durables, and Healthcare indices. Nifty PSU Bank, and Media indices managed to end in the green, with gains of up to 0.93 per cent.
Among the individual performances, NBCC India stock surged as much as 5 per cent as investors cheered for the company’s recent order wins, worth a cumulative Rs 919 crore.
Stock of the Ola Electric revved up 6 per cent extending its upsurge to the fifth straight session.
Paytm’s stock gained 2 per cent after UBS raised its target price for the stock to Rs 1,000. The brokerage projects Paytm’s FY26 revenue to align with FY24 levels, with adjusted Ebitda expected to break even by Q4FY25.
Shares of life insurance companies traded weak falling up to 7 per cent on reports that Insurance Regulatory and Development Authority of India (IRDAI) may consider capping parent bank’s share to insurers’ total bancassurance business to up to 50 per cent .
There was a lack of global cues due to the stock market holiday in the American market today. However, the geopolitical tensions led to the fall as Russia carried out massive missile and drone attacks against Ukraine’s energy infrastructure.