October 22, 2024
New Delhi, India
Stock Market Highlights
Indian equity markets witnessed a sharp downturn on Tuesday as both the Sensex and Nifty50 plunged, erasing early gains. The BSE Sensex dropped 931 points to close at 80220.72, while the Nifty50 settled below 24,500 at 24472.10, shedding over 1.25%.
Sectoral Declines Across the Board
All sectoral indices ended in the red, with auto, capital goods, metal, power, realty, telecom, media, and PSU banks falling 2-3%. The BSE Midcap index fell by 2.5%, while the Smallcap index declined by a steep 3.8%. Major laggards on the Nifty included Adani Enterprises, M&M, Bharat Electronics, and Coal India.
Limited Gains from Select Stocks
ICICI Bank, Nestle India, and Infosys were among the few stocks that provided some relief but were not enough to offset losses. Overall market sentiment was weighed down by weak earnings reports and continued foreign selling.
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