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Amid sustained pressure from tech stocks and profit booking in realty and auto sectors, the Indian stock market extended its losses for a fourth consecutive session on Wednesday, September 24.

The Nifty 50 finished 0.45% lower at 25,056, while the S&P BSE Sensex lost 0.47% to settle at 81,715. The broader markets also drifted lower, with the Nifty Midcap 100 and Nifty Smallcap 100 dropping 1% and 0.73%, respectively.

Sector-wise, Nifty Realty led the losses, falling 2.49%, followed by Nifty Auto and Nifty Private Bank, which declined 1.15% and 0.86%, respectively. Nifty Bank IT also fell 0.72%. On the winning side, only Nifty FMCG emerged in the green, with modest gain of 0.18%.

Adani group stocks extended their losing streak for the second consecutive session, erasing most of their recent gains. Adani Power emerged as the top laggard, falling 11% to ₹144.5 apiece, while Adani Total Gas also dropped 7.7% to ₹667.3 per share.

Other group stocks, including Adani Energy Solutions, Adani Green Energy, and Adani Enterprises, closed with losses ranging between 2% and 4%.

In another day of declines, tech stocks closed lower, with Coforge, Wipro, and Tech Mahindra falling up to 2.7% after the U.S. Department of Homeland Security (DHS) proposed amending the existing lottery process to give greater weight to applications from employers offering higher wages if annual visa requests exceed the 85,000 limit, signaling the U.S. intention to slow the inflow of foreign workers.

Meanwhile, some stocks that had gained sharply in recent sessions came under pressure, with GMDC, Samvardhana Motherson International, and Netweb Technologies closing lower by 3.5%–3.7%.

(more to come)

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