Delhi, 28 October (H.S.): Domestic equity markets ended Tuesday’s trading session with losses after grappling with significant intraday volatility. Despite an initial recovery that pushed the indices into positive territory, selling pressure in the latter half of the day led to a lower close. The BSE Sensex finished down 0.18%, while the NSE Nifty 50 slipped 0.12%.
The market began the day on a weak note, with the Sensex opening at 84,625.71, down 153.13 points. Early buying support lifted the index to an intraday high of 84,986.94. However, profit-booking soon triggered a sharp sell-off, causing the Sensex to plunge over 750 points from its peak to a low of 84,219.39.
A partial recovery towards the closing bell helped the index settle at 84,628.16, down 150.68 points for the day. Similarly, the Nifty 50, after opening at 25,939.95, fluctuated between a high of 26,041.70 and a low of 25,810.05 before closing at 25,936.20, a loss of 29.85 points.
Sectoral performance was mixed. The Banking, Metal, and Media sectors witnessed sustained buying interest. Conversely, significant selling pressure was observed in the Realty, FMCG, IT, and Consumer Durables spaces. Indices for Oil & Gas, Pharmaceuticals, and Automobiles also closed in the red.
The broader market, however, displayed resilience, as the BSE MidCap index rose 0.12% and the SmallCap index concluded with a 0.06% gain.The day’s downturn resulted in an erosion of investor wealth by approximately ₹65,000 crore. The total market capitalization of companies listed on the BSE decreased to ₹471.27 lakh crore (provisional) from ₹471.92 lakh crore on the previous trading day.
Market breadth was negative. Of the 4,332 stocks actively traded on the BSE, 1,910 advanced, while 2,246 declined. On the NSE, 1,178 shares closed higher against 1,655 that ended in the red. Among the benchmark indices, 21 of the 30 Sensex stocks and 30 of the 50 Nifty stocks posted losses.
Leading the pack of top gainers were JSW Steel (2.92%), Tata Steel (2.92%), SBI Life Insurance (1.77%), HDFC Life (1.32%), and Larsen & Toubro (1.25%). On the other hand, the top losers included Trent Ltd (1.53%), Bajaj Finserv (1.38%), Coal India (1.34%), Nestle (0.94%), and UltraTech Cement (0.70%).
Hindusthan Samachar / Jun Sarkar
