Delhi, 30 October (H.S.): The Indian stock market succumbed to bearish global sentiment on Thursday, closing with significant losses as uncertainty surrounding the U.S. Federal Reserve’s monetary policy weighed on investor confidence. The downturn erased approximately ₹1.82 lakh crore from investor wealth in a single session.
Trading for the day commenced on a weak note, and despite a brief, early-session buying spell that saw a marginal recovery, the market was soon gripped by intense selling pressure. This downward momentum persisted through the day, causing both benchmark indices to extend their losses.
By the closing bell, the BSE Sensex had fallen by 0.70 percent, and the NSE Nifty 50 had declined by 0.68 percent.Sector-wise, the banking, financial services, and pharmaceutical sectors experienced the most aggressive sell-offs.
The IT, automobile, FMCG, consumer durables, metal, and technology indices also finished in the red. In contrast, a few sectors, including public sector enterprises, oil and gas, and capital goods, witnessed minor buying interest.
The broader market remained under pressure, with the BSE MidCap index closing with a nominal gain of 0.77 points, while the SmallCap index ended the day with a 0.06 percent loss.The widespread market decline led to a substantial erosion of investor wealth.
The total market capitalization of companies listed on the BSE decreased to ₹472.45 lakh crore (provisional) by the end of Thursday’s session, down from ₹474.27 lakh crore on the previous trading day.Market breadth was decidedly negative. On the BSE, out of 4,322 actively traded stocks, 1,876 advanced while 2,291 declined, and 155 remained unchanged.
Similarly, on the NSE, 1,128 stocks closed in the green against 1,682 that ended in the red. The weakness was reflected in the benchmark indices, with 23 of the 30 Sensex constituents and 38 of the 50 Nifty constituents closing with losses.The BSE Sensex opened at 84,750.90, down 246.23 points. It briefly recovered to an intraday high of 84,906.95 before succumbing to selling pressure that dragged it to a low of 84,312.65.
The index ultimately closed at 84,404.46, registering a loss of 592.67 points.The NSE Nifty 50 began the day at 25,984.40, a drop of 69.50 points. After touching a high of 26,032.05, it steadily declined to an intraday low of 25,845.25. A minor recovery in the final moments of trading, driven by intra-day settlement, helped the index pare some losses to close at 25,877.85, down 176.05 points.
Top Movers
Top Gainers: The day’s top performers included Coal India (+1.49%), Larsen & Toubro (+0.74%), Bharat Electronics (+0.66%), Hindalco Industries (+0.60%), and Nestle (+0.54%).
Top Losers: On the losing side were Dr. Reddy’s Laboratories (-3.89%), Cipla (-2.59%), HDFC Life (-1.93%), Bharti Airtel (-1.63%), and InterGlobe Aviation (-1.51%).
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Hindusthan Samachar / Jun Sarkar
