SENSEX slides 500 points, NIFTY50 tests 24,000; Avenue Supermarts jumps 15%

At 9:53 AM, the S&P BSE SENSEX was trading at 79,461.02, down 482.69 points, or 0.60%, while the NSE's NIFTY50 index was trading at 24,068.55, down 120 points, or 0.5%.

Out of 50 components in the NIFTY50 index, 29 advanced and 21 declined.

The top five losers were Hero MotoCorp, Cipla, Dr. Reddy's, ITC, and TCS.

As regards SENSEX, ICICI Bank, HDFC Bank, Infosys, and ITC were the top contributors to the index's losses.

Buzzing Stocks

The company said its standalone revenue from operations for the quarter ended (QE) on December 31, 2024, stood at ₹15,565.23 crore, up 17.49% YoY.

Sector Watch

IT and tech stocks were the biggest losers on the BSE. The BSE Information Technology index was trading at 43,934.07, down 325.50 points, or 0.74%.

On the other hand, oil and gas stocks gained the most. The BSE OIL & GAS index was trading at 26,710.15, up 1.08%.

Broader Market

The S&P BSE Midcap index was trading at 47,180.58, up 89 points, or 0.19%, while the S&P BSE SmallCap index was trading at 56,460.39, up 333 points, or 0.59%.

Global Markets

Asian stocks rose on Friday while the US dollar was trading at a two-year high against a basket of currencies as investors fret about rates staying higher for longer.

MSCI's broadest index of Asia-Pacific shares outside Japan was 0.33% higher but on course for a nearly 1% drop for the week. The index rose nearly 8% in 2024. Japan's markets are closed for the week.

China stocks were steady after plunging on Thursday, highlighting growing worries about China's economy and a possible looming trade war when Donald Trump begins his US presidency this month.

China's blue-chip CSI 300 Index was 0.16 higher in early trading after logging its weakest New Year start since 2016 on Thursday. Hong Kong's Hang Seng Index rose 0.19%.