Stock market today: Over 260 stocks hit one-year lows on BSE; investors lose over ₹5 lakh crore in a day
Stock market today: As many as 264 stocks, including Tata Steel, Coal India, Hero MotoCorp, and YES Bank, hit their 52-week lows during intraday trade on the BSE on Friday, January 10, amid a widespread selloff that affected most sectors, leaving investors reeling.
The overall market capitalisation of BSE-listed firms dropped to nearly ₹430 lakh crore from ₹435.5 lakh crore in the previous session, making investors poorer by about ₹5.5 lakh crore in a single session. The Indian stock market has been under selling pressure for the last three consecutive sessions, and in these three days, investors have lost nearly ₹12 lakh crore.
IRCTC, Bank of India, Concor, NMDC, SAIL, Tata Elxsi, Union Bank, and Sona BLW Precision Forgings were also among the stocks that plummeted to their 52-week lows on the BSE.
Equity benchmark Sensex ended with a loss of 241 points, or 0.31 per cent, at 77,378.91, with shares of ICICI Bank, Reliance Industries, HDFC Bank, SBI and Axis Bank as the top drags on the index.
The Nifty 50 ended the day at 23,431.50, down 95 points, or 0.40 per cent.
Mid-caps and small-caps suffered deeper losses as the BSE Midcap and Smalllcap indices plunged 2.13 per cent and 2.40 per cent, respectively.
In the last three sessions of losses, the Sensex has declined 1 per cent while the Nifty 50 has dropped 1.2 per cent.
Suffering steeper losses, the BSE Midcap index has fallen 4.13 per cent while the BSE Smallcap index has lost 4.6 per cent in the last three sessions.
“Domestic market sentiment remained subdued due to rising crude oil prices, driven by supply concerns, and a strengthening dollar index. Despite the IT sector’s resilience following positive early Q3 results, broader indices bled due to uncertainties surrounding Trump policies and high valuations. Consolidation may persist in the near term, yet investors are closely watching the US non-farm payroll data today for further guidance,” said Vinod Nair, Head of Research, Geojit Financial Services.
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