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News Topical, Digital Desk : Share Market crashes: Amid the ongoing tensions over the India-US trade deal and the threat of a 500% tariff hike from the US, the stock market has seen a major decline. On Friday, January 9, the Sensex and Nifty saw a major decline. The Sensex fell 604.72 points to close at 83,576.24, while the Nifty fell 193.55 points to close at Rs 25,683.30. Investors lost crores of rupees in today's fall.
Market sentiment remained cautious after a sharp sell-off in the previous session, as global trade uncertainties weighed on investor confidence.
Crores of rupees were wasted
This proved to be the worst week for the index since September this year. Nearly 35 stocks in the Nifty 50 have lost money this week, ranging from 1% to 10% for stocks like Trent.
This week's selling has pushed the Nifty 50 index to its lowest level in two months. The total market capitalization of BSE-listed companies has been eroded by ₹15 lakh crore.
The losses were led by major companies like HDFC Bank, which saw its biggest weekly decline since January 2024, losing over ₹1 lakh crore in market capitalisation this week.
ICICI Bank, Adani Enterprises, and Adani Ports & Special Economic Zone were among the top losers in the Nifty50 pack, falling up to 2 percent. ETERNAL and Oil & Natural Gas Corporation were the top gainers, rising up to 3 percent. The market sentiment remained negative as around 863 stocks advanced, 2,919 declined, and 127 remained unchanged.
Why did the stock market fall?
Foreign institutional investors sold shares worth ₹3,367.12 crore on Thursday, the fourth consecutive selling session by FIIs after a brief break on January 2.
Investors are awaiting a ruling from the US Supreme Court on the legality of tariffs imposed by US President Donald Trump. If the tariffs are declared illegal, the US government could have to refund approximately US$150 billion to importers.
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