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Stock Market Crash: On Friday, January 9th, the Indian stock market continued its decline for the fifth consecutive trading day. Investor wealth declined by approximately ₹6 lakh crore during this period. This week proved to be the worst for the indices since September.
This week's selling has pushed the Nifty 50 to its lowest level in the past two months. Nearly 35 Nifty 50 stocks ended the week with losses, falling between 1% and 10%. Stocks like Trent saw the most significant weakness. The total market capitalization of BSE-listed companies declined by approximately ₹15 lakh crore due to the week-long decline. HDFC Bank led the decline among the heaviest stocks, recording its biggest weekly decline since January 2024, losing over ₹1 lakh crore in market capitalization this week alone. Even the hard-hit broader markets were not spared by this sell-off. The Nifty Midcap Index fell 3% this week, with over 80 of its 100 stocks reporting negative returns. This was the midcap index's worst week in the last three months. Similarly, the Nifty Smallcap Index also fell nearly 3% during the week, with over 80 stocks losing money. Sector-wise, all sectoral indices closed in the red. The Nifty Energy Index saw the biggest decline, losing 5%. This February was the index's worst week since last year. Additionally, the Nifty Metal, Nifty Realty, and Nifty Auto indices fell 2% to 3%. Within the auto sector, Eicher Motors and Bajaj Auto outperformed, while other stocks fell 0.4% to 5.5%. The coming week will be crucial for the market as the quarterly results season begins. IT giants TCS and HCLTech will announce their results on Monday, while market leader Reliance Industries will present its financial results on Friday.
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