The Indian stock market ended in red with Nifty below 21,200 and Sensex down 930 points. This left investors poorer by ₹9 lakh crore. The Sensex plummeted by 931 points to reach 70,506, while the Nifty witnessed a decline of 303 points, settling at 21,150.
Among the top losers in the Nifty 50 were Adani Ports, Adani Enterprises, UPL, Tata Steel, and Coal India. Conversely, the gainers comprised ONGC, Tata Consumer Products, Britannia Industries, and HDFC Bank.
All sectoral indices closed in negative territory, with auto, capital goods, metal, oil & gas, power, and realty witnessing declines in the range of 2-4%.
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.
First Published: Dec 20, 2023 3:38 PM IST
