On Friday, January 17, the stock market plummeted sharply as IT, private banks, and auto stocks declined.
At 9:20 a.m., the benchmark BSE Sensex was down 451 points, or 0.59%, to 76,591.82. The broader NSE Nifty fell 140.40 points, or 0.6%, to 23,171.40.
Which stocks have fallen the most?
Infosys Ltd plummeted the most among the 30 Sensex equities, trading at ₹1,839.70, a 4.49% drop. Axis Bank Ltd declined 3.38% to ₹1,005, while Tata Consultancy Services Ltd down 2.24% to ₹4,113.95.
How did each sector perform?
Nifty IT fell the most (2.38%) to 42,158.80 among the Nifty sectoral indexes, followed by Nifty Private Bank (1.23%) to 23,907.70 and Nifty Auto (0.82%) to 22,674.10.
The biggest losses were suffered by Mahindra & Mahindra Ltd. in the car industry (1.66%), Infosys in the IT index (4.35%), and Axis Bank in the banking index (3.15%).
Infosys also announced its financial results for the third quarter of fiscal year 2024-25 yesterday, January 16, 2025, indicating a 11.4% year-on-year increase in net profits and a 7.5% increase in revenue from operations.
Only the Nifty Oil & Gas index was in the green, while all other indices were in the red. The Oil & Gas index rose by 0.91% to 10,821.05.
This comes when oil costs have risen. Brent Crude rose 0.42%, or $0.34, to $81.63 per barrel in March 2025 futures, while WTI Crude Oil rose 0.66%, or $0.52, to $79.20 per barrel in February 2025 futures.
