Sensex Down 625 Points, Nifty Slips Below 25,800 as IT, Metal Stocks Weigh on Markets
Sensex Down: Indian equity benchmarks opened sharply lower for the second consecutive trading session on Tuesday, December 9, as selling pressure intensified across mid- and small-cap stocks, while heavyweights in the metal and IT sectors added to the drag. Weak global cues and renewed trade-related worries also kept investor sentiment subdued in early deals.
At around 9:38 AM, the S&P BSE Sensex was trading 625.90 points lower, or down 0.74%, at 84,476.79. The NSE Nifty50 slipped 199.70 points, or 0.77%, to trade at 25,760.85, falling below the crucial 25,800 mark.
The slide in Indian equities comes a day after US President Donald Trump hinted at the possibility of fresh tariffs on Indian rice, reviving concerns that trade talks between New Delhi and Washington may remain unresolved for longer than expected.
Sensex Down Today as Broader Markets Stay Under Heavy Pressure
The selling pressure was not limited to frontline indices alone, as the broader market also remained firmly in the red. The Nifty Midcap 100 index slipped 0.83% in early trade, while the Nifty Smallcap 100 was down 0.87%, highlighting continued weakness in the SMID space.
Market breadth on the NSE strongly favoured declines. Out of 2,733 stocks traded in the early session, only 377 advanced, while a massive 2,301 stocks declined and 55 remained unchanged. This clearly reflected deep risk aversion among investors.
Adding to the bearish tone, as many as 338 stocks touched their 52-week lows, while only seven stocks managed to hit fresh one-year highs. Circuit limits were also triggered, with 21 stocks hitting their upper circuits and 42 stocks locked in lower circuits.
Sectoral Performance: Media, Metal and IT Lead the Fall
Sectorally, all major indices opened in negative territory. Nifty Media emerged as the worst performer, sliding 1.41% in early trade. It was followed by Nifty Metal, which declined 0.96%, and Nifty IT, which was down 0.93%.
Other sectoral indices such as Nifty Auto (-0.81%) and Nifty PSU Bank (-0.73%) also witnessed notable selling pressure. The across-the-board weakness pointed to a broad risk-off mood, with investors staying cautious ahead of key global cues.
Meanwhile, India VIX — the volatility index — rose 3.1% to trade at 11.47, indicating a rise in near-term market uncertainty.
Sensex Down Today as Asian Markets Trade Mixed, Wall Street Weak
Asian markets mostly traded in the red, mirroring the weak global sentiment. Hong Kong’s Hang Seng Index slipped 0.85%, Taiwan Weighted fell 0.29%, South Korea’s KOSPI declined 0.68%, and China’s Shanghai Composite dropped 0.13%. Japan’s Nikkei, however, managed to buck the trend and traded 0.32% higher.
The cautious mood globally stems from investor nervousness over the pace of future interest rate cuts by the US Federal Reserve after the expected move this week.
Overnight on Wall Street, US markets also closed lower. The S&P 500 fell 0.35%, the Dow Jones Industrial Average slipped 0.45%, and the Nasdaq Composite edged down 0.14%. Rising US Treasury yields and anticipation ahead of the Federal Reserve’s policy decision kept global risk appetite in check.
FIIs Continue Selling; Asian Paints Tops Losers on Nifty
The flow of institutional money remained mixed. On Monday, foreign institutional investors (FIIs) sold shares worth ₹655.59 crore on a net basis, while domestic institutional investors (DIIs) provided support by purchasing equities worth ₹2,542.49 crore, as per exchange data.
On the Nifty50 index, Asian Paints emerged as the biggest laggard in early trade, plunging 2.95%. It was followed by Trent (-1.98%), Jio Financial Services (-1.48%), Hindalco Industries (-1.29%), and Eternal (-1.14%).
On the positive side, gains were limited to just a handful of stocks. Hindustan Unilever rose 0.48%, Bharti Airtel gained 0.31%, Cipla added 0.21%, and Grasim Industries edged up marginally by 0.03%.
With rising global uncertainty, pressure in mid- and small-cap stocks, and fresh concerns on the trade front, market participants are likely to remain cautious in the near term.
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