Market Wrap, Sept 25: NIFTY50 ends at 24,890, SENSEX tanks 556 points as realty, IT stocks weigh; Trent top loser

The Indian stock market declined for the fifth consecutive session on Thursday, September 25, tracking weak global cues and weighed down by losses in realty and IT stocks.

Ongoing foreign investor outflows, along with concerns over the sharp hike in U.S. H-1B visa fees, continue to dampen market sentiment.

According to exchange data, on Wednesday, the foreign institutional investors (FIIs) sold shares worth ₹2,425.75 crore, while the domestic institutional investors (DIIs) bought equities worth ₹1,211.68 crore on a net basis.

Globally, most Asian markets ended lower on Thursday, tracking losses on Wall Street as signs of fatigue emerged in the AI-driven equity rally.

Japan's Nikkei was up 0.22%, while Hong Kong's Hang Seng and South Korea's KOSPI were trading down 0.17% and 0.03%, respectively. China's Shanghai Composite settled flat; however, Taiwan Weighted slipped 0.66%.

The US stocks ended lower on Wednesday after the AI-fuelled rally on Wall Street took pause. The S&P 500 index fell 0.3%, and Nasdaq declined 0.34%, while the Dow Jones dropped 0.4%.

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

As many as 3,125 stocks traded on the NSE on Thursday. Out of this, 912 advanced and 2,124 stocks declined, while 89 scrips remained unchanged.

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

A total of 53 stocks hit their 52-week highs, while 77 stocks touched their one-year lows. Besides, 86 stocks hit their upper circuit limits, and 71 touched their lower circuit bands on Thursday.

The market capitalisation of NSE-listed firms stood at ₹454 lakh crore at the close of the session, marking a decline of ₹3.22 lakh crore from the previous day.

India VIX, the volatility gauge, stood at 10.78 levels, rising 2.47%.

Barring Nifty Metal, which edged up 0.22%, all sectoral indices ended in the red. Nifty Realty led the decline with a sharp fall of 1.65%, followed by Nifty IT (-1.27%), Nifty Pharma (-0.92%), Nifty Auto (-0.92%), and Nifty Consumer Durables (-0.72%).

The Nifty Smallcap 100 index slipped 0.57% to end at 17,966.80 levels, while the Nifty Midcap 100 index closed at the 57,555.90 level, losing 0.64%.

Trent emerged as the top laggard, slipping 3.61%, followed by Power Grid (-3.10%), Tata Motors (-2.64%), Tata Consultancy Services (-2.55%), and Asian Paints (-2.17%).

On the flip side, Bharat Electronics (2.07%), Hero MotoCorp (1.51%), Hindalco Industries (0.80%), ONGC (0.49%), Axis Bank (0.35%), Bharti Airtel (0.20%) and HDFC Bank (0.02%) were the only gainers on the 50-share index.