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Stock market today: The Indian stock market ended with significant losses on Wednesday, September 24, tracking weak global cues.

The Sensex closed the day at 81,715.63, down 386 points, or 0.47 per cent, while the Nifty 50 settled at 25,056.90, down 113 points, or 0.45 per cent. Thus, the benchmarks extended their losing run to the fourth consecutive session.

The BSE Midcap and Smallcap indices fell 0.85 per cent and 0.50 per cent, respectively.

Investors lost nearly ₹3 lakh crore in a single session as the overall market capitalisation of BSE-listed firms dropped to nearly ₹460.5 lakh crore from ₹463.6 lakh crore in the previous session.

Weak global cues, the dollar's rise, and persisting concerns over valuations, FII selling and Trump's tariffs kept the market down for the fourth consecutive session.

Major European markets, including the UK's FTSE, France's CAC 40, and Germany's DAX, traded in the red when the Sensex ended amid a rise in the US dollar after the US Federal Reserve Chair Jerome Powell's mixed signals on rate cuts on Tuesday.

In his speech on Tuesday, 23 September, Powell said that if the Fed cuts its rates too fast, it will leave the task of containing inflation unfinished to bring it under the central bank's target range.

With optimism over GST cuts behind, investors have shifted their focus back to valuations, earnings, and tariff chatter following the H-1B visa fee hike.

"Profit booking has been observed in Indian markets post-GST reforms, as investors recalibrate valuations and Q2 earnings expectations. IT stocks underperformed due to H-1B fee hikes, while US trade rhetoric amid ongoing trade negotiations and weak global cues are prompting cautious investor sentiment," said Vinod Nair, Head of Research, Geojit Investments.

"India’s relatively high valuations, coupled with moderation in earnings growth, continue to lead FIIs to trim their positions. That said, structural reforms and domestic growth drivers are keeping the underlying trend constructive. Current headwinds appear transitory, with headwinds likely to ease over time," Nair said.

As many as 34 stocks ended in the red in the Nifty 50 index. Shares of Tata Motors (down 2.62 per cent), BEL (down 2.16 per cent), and Jio Financial Services (down 2.02 per cent) ended as the top losers.

Shares of Power Grid Corporation (up 1.68 per cent), HUL (up 1.36 per cent), and NTPC (up 1.31 per cent) ended as the top gainers in the Nifty index.

Barring Nifty FMCG (up 0.18 per cent), all sectoral indices ended with losses, with Nifty Realty (down 2.49 per cent) ending as the top loser.

Nifty Auto (down 1.15 per cent), Private Bank (down 0.86 per cent), Media (down 0.81 per cent), and IT (down 0.72 per cent) ended with significant losses.

Nifty Bank fell 0.70 per cent, while the Financial Services index declined 0.64 per cent.

Vodafone Idea (66.84 crore shares), Adani Power (13.60 crore shares), and YES Bank (7.7 crore shares) were the most active stocks in terms of volume on the NSE.

Zuari Industries, Raj Packaging Industries, NACDAC Infrastructure, Machino Plastics, Ishaan Infrastructures and Shelters, Sacheta Metals, Universal Arts, and Incap were the eight stocks that jumped over 15 per cent on the BSE, defying weak market sentiment.

On the other hand, Adani Power, Diggi Multitrade, Eimco Elecon (India), and PDP Shipping & Projects were the four stocks that crashed over 10 per cent on the BSE.

Out of 4,320 stocks traded on the BSE, 1,602 advanced, while 2,565 declined. Some 153 stocks remained unchanged.

As many as 176 stocks, including Maruti Suzuki India, SBI, Tata Steel, Bajaj Finance, and Canara Bank, hit their 52-week highs in intraday trade on the BSE.

(This is a developing story. Please check back for fresh updates.)

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stories by Nishant Kumar

Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.

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