Market at close | Profit booking from elevated levels leaves investors poorer by ₹9 lakh crore

The midcap segment experienced its most substantial single-day fall since December 23, 2022.

The Nifty Bank was not immune to the market turmoil, witnessing a substantial drop of 426 points to 47,445, while the Midcap Index slipped significantly by 1,488 points, closing at 44,025.

Among individual stock movements, Indiabulls Housing Finance saw a notable 10% decrease, and Piramal Enterprises slipped by 8% following the Reserve Bank of India's tightening of Alternative Investment Fund (AIF) lending norms.

The IT sector struggled to maintain gains after in-line results from Accenture, with HCL Tech experiencing a dip of more than 3%.

Contributing significantly to Nifty's losses were heavyweight stocks like Reliance, L&T, and Infosys.

In a broad market decline, all sectoral indices ended in the red, with the Nifty PSU Bank experiencing a 4% drop, and the Nifty Media sector witnessing a 5% decline.

Amidst the overall negative sentiment, Varun Beverages managed to buck the trend, ending nearly 7% higher due to positive developments related to the acquisition of SA Beverage Co.

However, Vodafone Idea faced challenges, with its stock declining by more than 6% as subscriber losses escalated in September.