Market Wrap, Jan 9: SENSEX crashes 605 pts, NIFTY50 ends below 25,700; 307 stocks hit 52-week low, NSE-listed cos' mcap erodes ₹4.5 lakh crore

The Indian equity market ended lower for the fifth consecutive session on Friday, January 9, as investor sentiment remained subdued amid growing uncertainty over the trade deal between India and the US.

Continuous foreign investor outflows, along with weakness in realty, auto and consumer durables stocks, further weighed on the market.

Market sentiment was badly shaken after US President Donald Trump backed a sanctions bill that could impose 500% tariffs on countries buying Russian oil, giving the White House leverage against countries like China and India to stop them from purchasing cheap oil from Moscow.

The benchmark equity indices snapped a two-week winning streak, with both the SENSEX and the NIFTY50 declining about 2.5% over the week. The Nifty Bank index also fell 1.5%, while the Nifty Midcap 100 and Nifty Smallcap 100 slid 2.6% and 3.1%, respectively.

According to exchange data, on Thursday, the foreign institutional investors (FIIs) sold shares worth ₹3,367.12 crore, while the domestic institutional investors (DIIs) bought equities worth ₹3,701.17 crore on a net basis.

On the global front, Asian markets were trading higher on Friday, tracking as Japan's Nikkei advanced 1.14%, China's Shanghai Composite rose 0.3%, South Korea's KOSPI gained 0.52%, and Hong Kong's Hang Seng was up 0.02%.

On Wall Street, the US benchmark indices ended mixed on Thursday, with the Dow Jones Industrial Average rising 0.55%, the S&P 500 gaining 0.01%, and the tech-heavy Nasdaq slipping 0.44%.

Here are the key developments of Friday's session that you need to know

As many as 3,240 stocks traded on the NSE on Friday. Out of this, 2,395 declined and 747 stocks advanced, while 98 scrips remained unchanged.

This indicated that the market breadth was in favour of declines.

A total of 27 stocks hit their 52-week highs, while 307 stocks touched their one-year lows. Besides, 40 stocks hit their upper circuit limits, and 84 touched their lower circuit bands on Friday.

NSE-listed firms' market capitalisation stood at ₹465.57 lakh crore at the end of the session, losing ₹4.53 lakh crore.

India VIX, the volatility gauge, stood at 10.93 levels, rising 3.06%.

Dragged by Godrej Properties (-4.92%), Hitachi Energy India (-4.03%) and Glenmark Pharma (-3.62%), the Nifty Midcap 100 index slipped 0.79% to end at 59,748.15.

The Nifty Smallcap 100 index fell 1.81% to close at 17,282.65, weighed down by IEX (-7.26%), Manappuram Finance (-5.33%) and Tejas Networks (-5.22%).

Except for Nifty Oil & Gas (0.4%), Nifty IT (0.28%) and Nifty PSU Bank (0.18%), all the other sectoral indices ended with losses.

Nifty Realty (2.26%) took the lead among losers, while Nifty Auto (-1.15%), Nifty Consumer Durables (-1.14%), Nifty Private Bank (-0.95%) and Nifty Pharma (-0.88%) were the other laggards.

On the NIFTY50 index, 35 stocks declined while 15 advanced on Friday.

Adani Enterprises was the biggest losing stock, falling 2.59%, followed by NTPC (-2.29%), Adani Ports (-2.1%), ICICI Bank (-2.09%) and Jio Financial Services (-2.04%).

On the contrary, Asian Paints (1.88%), ONGC (1.16%), HCL Technologies (0.94%), Bharat Electronics (0.55%) and Dr Reddy’s Laboratories (0.5%) were the top gainers on the 50-share index.