NIFTY50 falls 170 points, SENSEX trades below 76,300; Trent, Adani Ports and SBI Life among top losers

Domestic equity indices magnified their losses in mid-market as market participants reduced their positions. Meanwhile, the broader markets were also experiencing selling; the BSE mid-cap index declined by 1.45%, and the small-cap index was down 1.43%

Market participants reacted to sluggish earnings from companies like Dixon Technologies. Shares of Zomato hit lower circuit after post-result commentory by the management guided for lower earnings in FY25 led by fall in consumer demand.

Strong selling in Zomato, Adani Ports &, SBI, Reliance Industries, and ICICI Bank stocks dragged the markets lower. Most of the sectoral indices on the BSE were trading in red, led by Consumer Durables, Realty, Consumer Disc, Telecom, and Power.

On the global front, Asian markets were trading mostly in green amid caution following U.S. President Donald Trump's announcement of trade tariffs on neighbouring countries shortly after taking office. Back home, in a stock-specific development, Waaree Energies surged after the company received a Letter of Award (LoA) for the supply of solar modules for 180 MWp from a renowned customer engaged in the business of owning, developing, and operating renewable power projects in India.

The SENSEX traded at 76350.15, down 723.29 points or 0.94% after trading in a range of 76224.79 and 77297.72. Three stocks advanced, and 27 stocks declined.

The NIFTY50 is currently trading at 23169.70, down by 175.05 points or 0.75% after trading in a range of 23127.70 and 23426.30. The index had 10 stocks advancing and 40 stocks declining.

Asian markets were trading mostly in green; Hang Seng advanced 204.26 points or 1.01% to 20,130.07, Jakarta Composite gained 31.75 points or 0.44% to 7,202.49, KOSPI increased 1.39 points or 0.06% to 2,521.44, Nikkei 225 surged 22.14 points or 0.06% to 38,924.64 and Taiwan Weighted added 53.27 points or 0.23% to 23,320.09. However, Shanghai Composite weakened 2.89 points or 0.09% to 3,241.49 and Straits Times fell 11.52 points or 0.3% to 3,796.45.