The Indian stock market experienced a significant crash on Monday, January 6, 2025, as banking and metal stocks took a severe hit during the morning trading session.
By 11:55 AM IST, the BSE Sensex had plunged by 1,131.53 points, or 1.43%, reaching 78,091.58, while the broader NSE Nifty had dropped by 384.75 points, or 1.6%, settling at 23,620.00. A staggering 30 Sensex stocks were in the red, with only one Nifty 50 stock showing positive movement.
Key Stocks and Sectors Impacted
Among the hardest-hit stocks, Tata Steel saw the biggest decline, falling by 4.48% to Rs.132.10. Kotak Mahindra Bank followed with a 3.13% drop, trading at Rs.1,781.50, and Power Grid Corporation of India saw a 3.05% decrease, trading at Rs.306.50.
All Nifty sectoral indices were in the red, with Nifty PSU Bank falling the most, down 3.52% to 6,386.25. Other sectors that suffered include Nifty Metal, down by 2.95% to 8,472.00, and Nifty Realty, which fell by 2.62% to 1,017.75.
Market’s Initial Performance
Despite starting the day on a positive note, the market quickly reversed its gains. At 9:30 AM IST, the Sensex was up by 272.45 points, or 0.34%, at 79,495.56, and the Nifty had risen by 27.60 points, or 0.11%, to 24,032.35.
Continued Downward Trend
The crash today follows a downward trend that started on Friday, January 3, 2025, when the market ended the session in the red due to drops in IT, pharma, and banking stocks. On that day, the Sensex closed at 79,223.11, a loss of 720.60 points or 0.90%, while the Nifty closed at 24,004.75, down by 183.90 points or 0.76%.
Stocks like Zomato, which fell 4.27% to ₹272.70, HDFC Bank, down 2.46% to Rs.1,749.30, and Tech Mahindra, down 2.19% to Rs.1,689.90, contributed to the losses. The Nifty IT, Pharma, and Bank indices also saw notable declines.
The ongoing volatility continues to create uncertainty in the market as investors closely monitor these developments.
