Stock market today: Investors lose Rs 2.6 lakh crore as Sensex, Nifty extend fall

Indian equity benchmarks were trading lower in the last trading session of 2024. On Tuesday, the domestic indices continued to fall for the second consecutive session as technology and consumer stocks dragged. The 30-share BSE Sensex pack slumped over 500 points while the NSE barometer Nifty hit the sub-23,550 level. At 10:40 am, the 30-pack Sensex was down 522 points or 0.67 per cent at 77,726. The NSE benchmark was down 131 points or 0.56 per cent at 23,513. Such was the fall in the domestic indices that around Rs 2.6 lakh crore of BSE market capitalisation (m-cap) was wiped out.

14 of the 19 sub-indices were down, with Nifty IT dropping 2.32 per cent to be the top sectoral loser. The drop in IT companies, which earn a significant share of their revenue from the United States (US), comes amid broader market weakness since the US Federal Reserve signalled "fewer than expected" rate reductions in 2025.

Here's a look at today's market fall in numbers:

Rs 2.6 lakh crore investor wealth lost

Investor wealth, as suggested by the BSE m-cap, fell Rs 2.66 lakh crore to Rs 438.69 lakh crore compared with a valuation of Rs 441.35 lakh crore recorded in the previous session. Frontline stocks such as Infosys, Tata Consultancy Services (TCS), ICICI Bank, HDFC Bank, Zomato, Tech Mahindra and HCLTechnologies contributed to the drop today.

86 stocks hit 52-week lows on BSE

As many as 86 stocks hit their 52-week lows today. BSE 500 stocks such as Astral Ltd, IRCTC, Motherson Sumi Wiring India Ltd, Relaxo Footwears and Tanla Platforms hit their respective one-year low levels. That said, 99 stocks touched their one-year high levels today.

2,065 stocks in the red

Out of 3,827 stocks, 2,065 stocks were seen declining. Only 1,617 stocks were advancing, while 145 stocks remained unchanged.

Adani Wilmar, Bajaj Holdings & Easy Trip Planners down up to 7%

Shares of Adani Wilmar, Bajaj Holdings & Investment, Easy Trip Planners Ltd, Godrej Industries, Lodha, Five-Star, Adani Green Energy, Fortis, BBTC and Persistent Systems tanked up to 7.23 per cent.

IT & consumer among top drags

For Sensex, the major culprits that dragged the index lower were Infy, TCS, ICICI Bank, HDFC Bank, Zomato, Tech Mahindra and HCLTech. On NSE, 14 out of 19 sub-indices were down. Nifty IT, Nifty Consumer Durables and Nifty FMCG fell sharply.

FII-DII data

Foreign institutional investors (FIIs) sold Rs 1,893.16 crore worth of shares on a net basis during the previous session, while domestic institutional investors (DIIs) bought Rs 2,173.86 crore worth of equity, according to stock exchange data.