The Indian stock market witnessed a significant downturn on Friday, with the benchmark Sensex tumbling over 900 points in afternoon trading. As of 1:12 PM, the 30-share BSE Sensex was down 936.14 points or 1.14% at 81,265.02, after opening at 82,171.08.
The broader NSE Nifty also faced selling pressure, declining 277.45 points or 1.1% to 24,867.65. The index had opened at 25,093.70.
The market breadth remained negative, with declines outnumbering advances. Out of 3,943 stocks traded on the BSE, 2,442 declined, while 1,386 advanced, and 115 remained unchanged.
Mid and small-cap indices also felt the heat, with the Nifty Midcap 100 declining 0.92% to 58,900.90 and the Nifty Smallcap 100 slipping 0.63% to 19,397.25 as of 11:40 AM.
Among the top gainers on the NSE at noon were LTIMindtree (1.60%), Bajaj Finance (1.57%), Hindustan Unilever (0.73%), Asian Paints (0.64%), and JSW Steel (0.56%).
On the flip side, major losers included SBI (-3.82%), HCL Tech (-2.12%), Coal India (-1.98%), NTPC (-1.80%), and Tata Motors (-1.75%).
The metal sector showed some resilience, with several stocks in the green. Top gainers among Nifty metal stocks were Ratnamani Metals (3.05%), Jindal Stainless (1.79%), Jindal Steel (1.32%), and JSW Steel (0.98%).
Despite the overall bearish sentiment, 265 stocks hit their 52-week highs, while 28 touched their 52-week lows. Additionally, 262 stocks were locked in the upper circuit, and 233 hit the lower circuit.
The market volatility was evident as 233 stocks hit their lower circuit limits, indicating a lack of buyers at lower levels for these counters.
Analysts attributed the market decline to a combination of global and domestic factors, including concerns over economic growth and potential policy changes.
As the trading session progresses, market participants will be closely watching for any signs of recovery or further downside. The final market outcome for the day will be determined when trading concludes.