NIFTY50 and SENSEX fall nearly 1%; ONGC, consumer durable stocks among top losers

Domestic equity indices remained in red during the mid-market session on account of selling by fund and retail investors. Meanwhile, broader indices were also trading in red, with the BSE Midcap index and Small-cap index falling in the range of 0.90-1.15%. Weak cues from the global markets weighed on the domestic sentiments. Rising crude oil prices also weighed on the sentiments.

Market participants also reacted to the first advance estimates released by the National Statistics Office (NSO), which estimated that the Indian economy would slow to a four-year low of 6.4% in FY25, falling short of the Reserve Bank of India’s (RBI’s) projection of 6.6%.

On the global front, Asian markets were trading mostly in red following weak cues from the US markets. Back home, in stock-specific development, Ola Electric fell after the Company received an administrative warning via email January 7, 2025, issued by SEBI in its letter dated January 7, 2025.

The BSE Sensex traded at 77602.18, down 600 points or 0.50% after trading in a range of 77602.21 and 78319.45. Eight stocks advanced on the index, while 22 stocks declined.

The broader indices were trading in red; the BSE mid-cap index was down by 1.16%, while the small-cap index was down by 0.90%.

The NIFTY50 traded at 23,592.85, down by 175.0 points or 0.74% after trading in a range of 23,751.85 and 23,535.35. Ten stocks advanced on the index, while 40 stocks declined.

Asian markets were trading mostly in red; Hang Seng declined 261.79 points or 1.36% to 19,185.79. Jakarta Composite plunged 3.13 points or 0.04% to 7,080.15, Shanghai Composite weakened 42.56 points or 1.34% to 3,187.08, Nikkei 225 slipped 91.12 points or 0.23% to 39,992.18 and Taiwan Weighted lost 210.41 points or 0.9% to 23,440.86. However, Straits Times rose 31.12 points or 0.81% to 3,859.29, and KOSPI increased 29.48 points or 1.17% to 2,521.58.