Sensex, Nifty dip on New Year’s Eve, led by IT stocks | Market Update
The stock market opened lower on Tuesday, December 31, continuing the decline from the previous session. IT stocks were the main drag. At 9:30 AM, the BSE Sensex dropped 401.40 points (0.51%), reaching 77,846.73. The NSE Nifty followed, down 106.35 points (0.45%) at 23,538.55.
Among the 30 Sensex stocks, Tech Mahindra saw the biggest drop of 2.27%, trading at ₹1,707. Infosys fell by 1.85%, at ₹1,870.35, and Zomato dropped 1.73%, trading at ₹278. Only four stocks were in the green: Kotak Mahindra Bank (up 1.23%, ₹1,764.35), SBI (up 0.63%, ₹793.30), Tata Motors (up 0.23%, ₹735.45), and Tata Steel (flat at ₹136.90).
The Nifty IT sector was the worst performer, down 1.78% to 43,187.75. Other sectors, such as Nifty Midsmall IT & Telecom (-1.51%) and Nifty Financial Services Ex-Bank (-1.06%), also saw losses. Auto stocks fared slightly better, with Nifty Auto falling just 0.08% to 22,750.70. Nifty Bank also slipped by 0.36%, settling at 50,769.05.
The downturn followed a tough Monday, December 30, when the Sensex closed at 78,248.13, losing 450.94 points (0.57%). The Nifty also fell by 168.50 points (0.71%), closing at 23,644.90.
