Stock Market Today: BSE Sensex and NSE Nifty are Down This Morning.

Market Update: BSE Sensex and NSE Nifty Open Lower Today

Written by: Supriya Kadu

Edited by: Pinky Deshmukh

Last Updated: January 13, 2025

Summary: Sensex and Nifty were down this Monday morning due to growing global concerns.

The Indian major equity indices, the BSE Sensex and Nifty50, began substantially lower on Monday, owing to rising global concerns.

At the opening of trade, the BSE Sensex declined 800.29 points, or 1.03%, to 76,578.62, while the Nifty50 fell 218.40 points, or 0.93%, to 23,213.10.

Only two stocks on the 30-stock BSE Sensex were up after the opening bell: IndusInd Bank (up 2.33%) and Axis Bank (up 0.35%). The other firms in the index saw decreases. Zomato was the biggest loser (down 3.02%), followed by Tata Steel, Power Grid, Mahindra & Mahindra, and Tata Motors.

Just five stocks were up on the Nifty50: Britannia Industries, HCLTech, IndusInd Bank (up 2.27%), Maruti Suzuki India, and Shriram Finance. BPCL (down 2.03%) was the largest laggard, followed by BEL, SBI Life, Mahindra & Mahindra, and Apollo Hospital Enterprises.

Every industry was trading in the red overall. With a 2.42% decrease, the Realty index experienced the biggest drop. Consumer durables, healthcare, metals, automobiles, oil, PSU banks, and pharmaceuticals were among the other industries that saw more than 1% decline.

The FMCG, IT, Bank, and Financial Services indices also reported significant losses.

With the Nifty Midcap 100 down 1.46% and the Nifty Smallcap 100 down 1.36%, the larger markets were also feeling the pinch. The India VIX, a measure of volatility in India, rose 6.78% to 15.93.

After a better-than-expected US jobs report, Asian markets fell Monday, but the dollar held close to 14-month highs. Concerns about excessive equities valuations at the start of earnings season were sparked by the strong payroll data, which also helped bond yields rise.

Following tighter US sanctions, indications of decreased Russian crude supplies caused oil prices to spike to four-month highs, further putting pressure on the market.

Markets are now only expecting a 27 basis point rate cut in 2025, having previously lowered their yearly estimates. The terminal rate is approximately 4.0%, which is lower than the 3.0% that was first anticipated.