The Sensex fell 829 points to 76,034, while the Nifty 50 declined 228 points to close at 23,639, slipping below the 23,650 mark.
Banking stocks remained under pressure, with the Nifty Bank index dropping 635 points to 55,101, contributing significantly to the market’s weakness. The Nifty Auto index extended its losing streak, falling over 6% across the last two sessions amid broad-based selling in auto counters.
Market breadth remained negative, reflecting the broader weakness. 37 Nifty stocks ended in the red, with Mahindra & Mahindra, Maruti Suzuki andEicher Motors emerging as the top losers on the index.
Meanwhile, the Indian rupee weakened sharply to hit a record low of 92.36 against the US dollar during the session, adding to concerns around external pressures.
Among individual stocks, Coal India stood out as the top Nifty gainer, rising nearly 5% during the session.
On the downside, Larsen & Toubro slipped nearly 3% after Kotak Institutional Equities cut its target price to ₹4,000 per share. Colgate-Palmolive India extended its decline, falling over 10% in the past two sessions.
In contrast, Aarti Industriesgained more than 5% after securing a $150 million agrochemical supply contract. TTK Prestige continued its strong momentum, rising 24% over the last three sessions on the back of surging demand for induction cooktops.
Food delivery and quick commerce names Eternal and Swiggy fell up to 3%, reportedly weighed down by a liquefied natural gas (LNG) shortage impacting restaurant operations.
Meanwhile, Jagsonpal Pharmaceuticals gained over 6% after its board approved a share buyback at ₹250 per share through the tender route.
Broader markets also remained under pressure, with the Nifty Midcap index falling 207 points to 56,254. Market breadth on the NSE favoured declines, with the advance-decline ratio at roughly 2:3.
