Mumbai: Indian equity indices-BSE Sensex and NSE Nifty- ended lower again. The BSE Sensex closed around 200 points lower at 75,939 levels. The NSE Nifty 50 index shed 102 points to 22,929 levels.
The market breadth showed overwhelming bearish sentiment, with declines outnumbering advances by more than 5:1 on the BSE. Out of 3,933 stocks traded, 3,219 stocks declined, while only 605 advanced, with 109 remaining unchanged. A concerning 436 stocks hit their 52-week lows, compared to just 38 reaching 52-week highs. Top losers were Adani Ports, BEL, Adani Enterprises, Trent, Grasim, Bajaj Auto, Hero MotoCorp and Sun Pharma.
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India stock market capitalisation, meanwhile, dropped below the $4-trillion mark for the first time in more-than-14 months.
The Nifty Smallcap 100 index officially entered ‘bear’ phase on Friday with the index slipping around 22 per cent from its peak of 19,716.20. The index lost nearly 4 per cent on Friday to close at 15,373.70 levels. The Nifty Midcap 150 index lost nearly 2.5 per cent in trade on Friday to close at 18,325.40 levels, NSE data showed.
The selling pressure was particularly severe in mid and small-cap segments, with the Nifty Midcap Select index plummeting 2.58 per cent to 11,066.60. The Nifty Next 50 also saw significant losses, falling 1.99 per cent to 59,734.45. The banking and financial services sectors weren’t spared, with the Nifty Bank index down 0.93 per cent at 48,900.50 and Nifty Financial Services shedding 0.81 per cent to 23,084.05.
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