Sensex, Nifty decline in early trade on New Year's eve, dragged down by IT stocks | Market updates

This comes after the stock market experienced a crash during the later trading hours of the previous day's session.

The stock market opened deep into the red on Tuesday, December 31, continuing the fall seen towards the later part of Monday's trading session. The fall was primarily caused by IT stocks.

People walk past the Bombay Stock Exchange (BSE) building in Mumbai, India, March 9, 2020(Francis Mascarenhas/Reuters)

At 9:30am, the benchmark BSE Sensex was down by a huge 401.40 points or 0.51%, reaching 77,846.73.

Meanwhile, the broader NSE Nifty was down by 106.35 points or 0.45%, reaching 23,538.55.

Which stocks fell the most?

Among the 30 Sensex stocks, Tech Mahindra Ltd, fell the most by 2.27%, trading at ₹1,707. This was followed by Infosys Ltd, which was down 1.85%, trading at ₹1,870.35 and Zomato Ltd, which fell by 1.73%, trading at ₹278.

Only 4 out of the 30 Sensex stocks were in the green. This included Kotak Mahindra Bank (Up by 1.23%, trading at ₹1,764.35), SBI (Up by 0.63%, trading at ₹793.30), Tata Motors (Up by 0.23%, trading at ₹735.45), and Tata Steel (Flat at 0.00%, trading at ₹136.90).

Which sectors fell the most?

Among the Nifty Sectoral Indices, Nifty IT fell the most by 1.78%, reaching 43,187.75. This was followed by Nifty Midsmall IT & Telecom, which was down by 1.51%, reaching 11,035.15, and Nifty Financial Services Ex-Bank, which was down 1.06%, reaching 25,068.35.

Auto stocks didn't fall as much today as it did yesterday, with Nifty Auto being down 0.08%, reaching 22,750.70. Similarly, Nifty Bank was down 0.36%, reaching 50,769.05.

How did stock market perform yesterday?

The stock market experienced a crash yesterday on Monday, December 30, 2024.

The Sensex closed at 78,248.13, which was a fall of 450.94 points or 0.57%, while the Nifty closed at 23,644.90, which was a fall of 168.50 points or 0.71%.