Market Wrap, January 13: Cocktail of factors drags SENSEX, NIFTY50 to lowest in seven months; broader indices too sink over 4%

On Friday, the gain of 256,000 jobs in the US in December went well beyond the 160,000 expected by economists in a Reuters poll. The unemployment rate, as reported in the Labor Department's monthly jobs report, ticked down to 4.1% from 4.2%.

The strong US jobs report poured cold water on the expectations of rate cuts by the Federal Reserve.

At close, the S&P BSE SENSEX stood at 76,330.01, down 1048.90 points, or 1.36%, while the NSE's NIFTY50 index closed the session at 23,085.95, down 345.55 points, or 1.47%.

The market capitalisation of the BSE-listed firms dropped from ₹429.67 lakh crore to ₹417.05 lakh crore, down ₹12.61 lakh crore.

Top gainers and losers

As many as 46 stocks from the NIFTY50 basket ended in the red and the rest four in the green.

The top losers of the index were Adani Enterprises, Trent Ltd, BPCL, BEL, and Power Grid.

The top gainers were TCS, IndusInd Bank, Axis Bank, and HUL.

Market Statistics

Out of 4,248 stocks traded on the BSE, 3,562 declined, and 555 advanced, while 131 stocks remained unchanged.

A total of 120 stocks hit their 52-week highs while 508 stocks hit their 52-week lows.

Further, 12 stocks touched their upper circuits and 4 their lower circuits.

Buzzing Stocks

The company reported a 4.8% rise in its consolidated net profit to ₹723.54 crore for the third quarter ended December 2024.

The company had posted a net profit of ₹ 690.41 crore a year ago.

The stock eventually ended at ₹3,500, down 5.05%.

The company's net profit dropped 37% on-year to ₹93 crore in the October-December quarter, sharply lower than the ₹148 crore that it clocked in the same period last year. The decline in the company's bottom line was largely driven by a spike in operating costs.

On Friday, the stock settled at ₹1,034.60. The scrip's 52-week low level is ₹769.85, which was touched on March 20, 2024.

Broader Market

The BSE MidCap index ended at 42,395.71, down 1,845.18 points, or 4.17%. The BSE SmallCap index ended at 50,541.90, down 2,180.44 points, or 4.14%.

Sector Watch

All sectoral indices took a heavy beating and ended in negative territory. Realty and utility indices took the hardest knock.

The BSE Utilities index ended at 4,790.32, down 219.39 points, or 4.38%, while the BSE Realty ended at 7,089.45, down 500.21 points, or 6.59%.