India's domestic stock market witnessed a reversal of fortune today, ending the trading session in the red zone. After reaching record highs during the opening hour, profit-booking set in, leading to a decline in both the Sensex and Nifty indices.

The early surge was fueled by buying across sectors like realty, metal, and banking. However, this momentum was short-lived as investors opted to lock in profits, triggering a wave of selling. Despite attempts from buyers to support the market, the selling pressure proved too strong.

Key Details of the Market Slide

• Sensex: The benchmark Sensex index opened at a record high of 75,124.28 but closed 0.08% lower at 74,683.70, shedding 58.80 points.
• Nifty: The broader Nifty index mirrored the Sensex's trajectory. It started at 22,765.10, another record high, but ended the day down 0.10% at 22,642.75, a loss of 23.55 points.
• Sectoral Performance: While realty, metal, and banking sectors displayed buying interest, broader weakness dragged down infrastructure, FMCG, public sector enterprises, energy, and automobile indices.
• Market Breadth: The broader market sentiment remained negative, with the BSE midcap and smallcap indices closing 0.47% and 0.15% lower, respectively.

Investor Wealth Erosion and Trading Activity

• Investor Impact: The market correction led to a decrease in investor wealth exceeding Rs 80,000 crore. The market capitalization of BSE-listed companies dropped to Rs 399.98 lakh crore (provisional).
• Trading Activity: Active trading was observed throughout the day with 3,951 shares being traded on the BSE. Of these, only 1,614 shares closed with gains, while 2,232 witnessed a decline. Similarly, on the NSE, 2,195 shares were traded, with 874 registering profits and 1,321 incurring losses.

Detailed Index Movement

• Sensex: The index experienced significant volatility throughout the day. After a strong opening, it dipped over 300 points but recovered briefly due to buying support. However, selling pressure resumed, pushing the index down by more than 500 points from its intraday high.
• Nifty: The Nifty followed a similar pattern as the Sensex. It started strong but succumbed to profit-booking, falling over 150 points from its peak. Minor buying in the final trading hour helped it recoup some losses.

Top Gainers and Losers

• Top Gainers: Apollo Hospitals (3.13%), Hindalco Industries (2.05%), ICICI Bank (1.83%), Bajaj Finserv (1.26%), and Infosys (1.23%) emerged as the top gainers on the Sensex.
• Top Losers: Titan Company (-1.86%), Coal India (-1.69%), Hero MotoCorp (-1.60%), Reliance Industries (-1.50%), and Asian Paints (-1.21%) were the biggest losers on the Sensex.