The stock market experienced a significant downturn during the early trading hours on Tuesday, January 21, as consumer durables, real estate, and mid and small-cap financial services stocks led the decline.
At 10:40 AM, the benchmark BSE Sensex had dropped by 648.90 points, or 0.84%, settling at 76,424.54. Meanwhile, the broader NSE Nifty fell by 149.15 points, or 0.64%, reaching 23,195.60. Despite starting the day positively, the market quickly shifted into negative territory.
Which Stocks Experienced the Most Significant Declines?
Among the 30 stocks in the Sensex index, Zomato Ltd saw the largest drop, plummeting by 10.98% to trade at ₹214.50. Adani Ports and Special Economic Zone followed closely, which decreased by 1.96% to ₹1,126.55, and Reliance Industries Ltd, which fell by 1.71% to ₹1,282.65.
Zomato had just released its third-quarter financial results for the fiscal year 2024-25, reporting a substantial 57% decline in net profit despite a 64% increase in revenue due to rising expenses.
Only three stocks in the Sensex managed to gain value during this downturn: UltraTech Cement Ltd rose by 0.84% to ₹10,713.90, ITC Ltd increased by 0.51% to ₹440.00, and HCL Technologies Ltd climbed by 0.50% to ₹1,804.80.
Which Sectors Were Hit Hardest?
Regarding sector performance among the Nifty indices, the Nifty Consumer Durables sector experienced the steepest decline, falling by 3.38% to reach 38,384.40. This was followed by Nifty Realty, which dropped by 2.67% to 920.10, and Nifty Midsmall Financial Services, which decreased by 2.05% to 15,292.30.
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