Sensex and the Nifty 50 struggled throughout the day, with Sensex dropping 73.48 points (0.09%) to close at 81,151.27, while the Nifty 50 ended lower by 73 points (0.29%) at 24,781.
Even the broader markets didn’t escape the sell-off, with the Nifty Smallcap 100 declining 3.62% and the Nifty Midcap 100 falling by 2.35%.
Impact on the stock market
Almost all major sectoral indices ended in the red today, reflecting a broader market weakness across multiple sectors. Here’s a quick look at how various sectors fared:
- The PSU Bank index fell the most, dropping 3.59%, followed by the Realty index that declined 3.39%.
- Other sectors, including Metal, Auto, Consumer Durables, and Oil & Gas, saw drops between 2-3%.
- The Bank, Financial Services, FMCG, IT, Pharma, and Healthcare indices also fell but at a more moderate range of 0.55% to 2%.
You may also like: From Flipkart to FirstCry: Sudhir Sethi’s venture capital journey
| Sector/Index | Performance |
| IT & BPM sector | -0.73% |
| Healthcare sector | -1.28% |
| Oil & Gas sector | -1.28% |
| Real estate sector | -3.31% |
| PSU Bank in India | -4.21% |
Top gainers today
| Company | Price | Change % |
| ICICI Bank Share Price | 1,268.35 | 0.74 |
| Nestle Share Price | 2,357.00 | 0.10 |
| Infosys Share Price | 1,853.55 | 0.04 |
Top losers today
| Adani Enterpris Share Price | 2,823.80 | -3.88 |
| Bharat Elec Share Price | 271.65 | -3.77 |
| M&M Share Price | 2,887.20 | -3.70 |
| Coal India Share Price | 468.35 | -3.51 |
| Tata Steel Share Price | 150.39 | -2.99 |
Market aftermath: Impact on stocks
Zomato: Trading flat before Q2 results
One of the most closely watched stocks today was Zomato, ahead of its Q2 results announcement. The stock opened with an upward gap at ₹267 but couldn’t maintain the momentum, hitting an intraday high of ₹270.90 before profit-booking kicked in.
Experts believe Zomato will report 69% YoY revenue growth and 14% QoQ growth, with strong improvements in EBITDA margins. Analysts suggest the stock could reach ₹290-₹300, but current investors are advised to hold with a stop loss at ₹240.
You may also read: The 5G revolution: Top 5G stocks in India
Rail Vikas Nigam Ltd (RVNL): A multibagger in the spotlight
Rail Vikas Nigam Ltd (RVNL) had a noteworthy day after emerging as the lowest bidder for a ₹270 crore project from Maharashtra Metro Rail Corporation. The stock has been a long-term performer, with gains of over 1,200% in two years.
Despite its overall strength, RVNL shares traded lower today, impacted by broader market sentiment. That said, technical indicators suggest that the stock is currently stable, trading above its 5-day and 200-day moving averages.
Paytm: Reports a profit turnaround
Another highlight was Paytm, which reported a consolidated profit of ₹928 crore for Q2 FY25, bouncing back from a loss of ₹290.5 crore in the same period last year. This turnaround can largely be attributed to an exceptional gain of ₹1,345 crore from the sale of its ticketing and events business to Zomato. Paytm’s expenses also saw a significant reduction, particularly in marketing costs, which were down 30.2% QoQ.
Despite the positive earnings, Paytm’s revenue from operations fell 34.1% YoY. However, the stock showed resilience, signalling that investors are confident in the company’s long-term strategy.
You may also like: Govt Plans to Audit Ola Service Centres: What It Means for Consumers
Crude oil slumps amid demand concerns from China
The global energy market also saw a dip, with crude oil futures trading lower due to concerns over weakening demand from China. Brent oil futures were down by 0.27%, trading at $74.09, while WTI crude futures dipped 0.26%, to $69.86.
China, being a key consumer of crude oil, has been experiencing slower economic growth, which has raised concerns about a potential reduction in global oil demand. Additionally, OPEC+’s plan to increase production in December has further dampened the market’s outlook for oil prices.
Conclusion
Today’s stock market activity painted a picture of heightened caution, profit booking, and sectoral struggles. With BSE Sensex and Nifty 50 both closing lower, and most sectors underperforming, investors will be closely watching for signs of recovery or further corrections. The volatility in oil prices due to global demand concerns, particularly from China, added another layer of uncertainty. Despite this, individual stocks like Zomato, RVNL, and Paytm offer a glimmer of hope, as each of them has its own growth narrative amidst the market downturn.
For now, the market remains in a phase of cautious optimism, waiting to see how corporate earnings, global economic trends, and sectoral performances play out in the weeks to come.
For more stock market insights, check out the StockGro blog.
