The sell-off wiped out nearly ₹13 lakh crore in market capitalisation of BSE-listed companies over the last two sessions. The Nifty is also set to decline for a ninth consecutive week, which would be the first such streak in 25 years.
All frontline indices fell more than 1%, except the information technology (IT) index, while all major indices ended in the red. The Nifty Bank declined 541 points to 54,515, while the Midcap index dropped 1,500 points to 57,883.
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Market breadth remained firmly in favour of declines, with the advance-decline ratio at 1:6. Ten Nifty stocks ended at 52-week lows, while 44 stocks traded below their 200-day moving average (DMA).
Adani Group stocks saw a major fall, with most of the stocks declining 4% or more. Metal stocks also came under pressure, with JSW Steel emerging as the top loser as the dollar index rose.
Crude-sensitive stocks also declined as Brent crude rose above $104 per barrel. Paint and airline stocks were among the names that came under pressure.
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Jubilant FoodWorks fell 6% after its second-quarter like-for-like growth came in below estimates. Paytm and Mobikwik declined 5% each after sources said the merchant discount rate (MDR) may be deferred to January 2027.
Ola Electric fell 5% after the company announced a rights issue at ₹27 per share. ITC declined 4% following block deals involving nearly 3% of its equity, worth ₹9,500 crore.
JSW Steel Ltd, Max Healthcare Institute Ltd, ITC Ltd, InterGlobe Aviation Ltd, Power Grid Corporation of India Ltd and Shriram Finance Ltd were the biggest laggards.
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