Markets close in bloodbath; Nifty below 21,550

3 Jan 2024 , 03:57 PM

Indian benchmark indices ended today’s session with heavy losses for the second consecutive day. In today’s trade, markets were in a sluggish tone throughout the day.

BSE Sensex closed 536 points lower at 71,356. NSE Nifty ended with a decline of 149 points at 21,517.

The market has become extremely volatile due to profit-taking driven by elevated valuations. Even Domestic Institutional Investors (DIIs), who have consistently been buyers, are now taking profits. Simultaneously, there is also buying occurring during market dips.

On the sectoral front, Pharma, Realty, and Media were the only major indices that closed in green. All other sectoral indices ended on a dim note.

Bajaj Auto, Adani Enterprises, Adani Ports, Cipla, and ITC held the top positions in today’s trade. Hindalco, JSW Steel, Tata Steel, LTIMindtree, and Tech Mahindra emerged as the top laggards.

The most active stocks in terms of value were Adani Enterprises, Adani Ports, HDFC Bank, ICICI Bank, and Reliance Industries.

A total of 204 stocks touched new 52-week highs in today’s trade and 8 stocks plunged to new 52-week lows.

On individual stock basis, D-Mart, and JSW Steel fell more than 4% in today’s session. While, Bajaj Auto gained more than 5% on announcement of buyback plans.

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