Mid-market update: NIFTY50 and SENSEX fall over 1% ; Trent, Apollo Hospital and Adani Enterprises are among the top losers

Domestic equity indices remained in red and traded with a cut of nearly 1% in the mid-market session as market participants reduced their positions. Meanwhile, the broader markets were facing the heat of selling; the BSE mid-cap index declined by 2.42%, and the small-cap index was down 2.20%. Weak cues from the global markets weighed on domestic sentiments.

Traders were cautious as crude oil prices surged, with Brent rising above $81 a barrel to its highest in more than four months, as wider U.S. sanctions are expected to affect Russian crude exports to top buyers China and India. Further, sentiments were also weak as U.S. Treasury yields jumped to their highest level since November 2023. The 10-year Treasury yield added nearly six basis points at 4.745%.

Besides, weakness also prevailed in the markets, as IMF Managing Director Kristalina Georgieva said that the Indian economy is expected to be a little weaker in 2025 despite steady global growth.

The SENSEX traded at 768.790.12, down by 588.79 points or 0.76% after trading in a range of 76535.24 and 77128.35. The index had 4 stocks advancing against 26 stocks declining.

The broader indices were trading in red; the BSE mid-cap index was down by 2.42%, while the small-cap index was down by 2.20%.

The NIFTY50 traded at 23240.55, down by 190.95 points or 0.81% after trading in a range of 23172.70 and 23340.95. Five stocks advanced on the index, while 45 stocks declined.