Sensex Today Plunges 1,053 Points | Zee Entertainment Tumbles 31% | 5 Reasons Why Indian Share Market is Falling

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After opening the day on negative note, Indian share markets extended losses as the session progressed and ended the day on a weak note.

Equity markets plunged to one-month lows on Tuesday as selling in financial, and FMCG shares dent the sentiment.

At the closing bell, the BSE Sensex stood down by 1053 points (down 1.5%).

Meanwhile, the NSE Nifty closed down by 333 points (down 1.5%).

Cipla, Sun Pharma and ICICI Bank were among the top gainers today.

IndusInd Bank, ONGC and Coal India on the other hand, were among the top losers today.

The GIFT Nifty was trading at 21,176 down by 435 points, at the time of writing.

Broader markets ended on positive note. The BSE MidCap index and BSE SmallCap index ended 2.7% lower.

Barring healthcare sector, sectoral indices ended negative with stocks in realty sector and metal sector and oil & gas sector witness selling pressure.

Shares of Hero MotoCorp, Colgate and Infosys hit their respective 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

Asian share markets ended mixed. The Shanghai Composite ended 0.5% higher, while the Nikkei index ended flat. Meanwhile Hang Seng ended 2.6% higher.

The rupee is trading at 83.17 against the US$.

Gold prices for the latest contract on MCX are trading marginally higher at Rs 62,035 per 10 grams.

Meanwhile, silver prices are trading margially higher at Rs 70,850 per 1 kg.

Here are five reasons why Indian Markets are falling today.

#1 Bank Stocks Decline

HDFC Bank was again the top culprit behind Tuesday's weakness. It hit a 52-week low with a 4% slide today. In the past one week, the stock has tanked 15% and has seen its market capitalisation erode by Rs 1.9 trillion as Q3 numbers showed falling net interest margins and weaker deposit growth.

IndusInd Bank, SBI and Axis Bank were other top drags on Tuesday amid concerns the margin squeeze for the banking pack may continue in coming quarters.

#2 Selloff in index heavyweight stocks

Shares of India's most valued company Reliance Industries (RIL) fell 2% and was the second biggest contributor in today's fall.

Selling pressure was witnessed in other oil and gas stocks too with IOC, HPCL, Adani Total Gas, Oil India, ONGC, and BPCL cracking in between 4-5%.

#3 SEBI stance on ownership norms

Markets regulator Sebi may impose tightened ultimate beneficial ownership norms for overseas investors with effect from 1 February despite pressure from foreign banks and a section of offshore fund managers to ease the rules ahead of the deadline.

#4 Volatile oil market

Crude oil prices gained strength over the weekend and were trading at US$ 80 per barrel, a gain of 2% after a suspected Ukrainian drone attack on a large fuel export terminal in Russia.

Russian energy company Novatek said on Sunday it had to suspend some operations at a huge Baltic Sea fuel export terminal due to a fire.

Meanwhile, the US and the UK jointly carried out fresh airstrikes on eight targets of the Iranian-backed Houthis in Yemen on Monday, keeping tensions in the Middle-East high.

#5 Spike in US bond yields

Even as the cash market remained resilient, hitting new highs on Monday night, Treasury yields were holding onto gains today morning. The benchmark 10-year Treasury note was around 1.7 basis points higher at 4.1% ahead of Q4 GDP data in the US due for release on Thursday.

Speaking of stock markets, ndia's three leading exchanges, BSE, MCX and IEX operate in different genres.

One is a stock exchange (operating in financial sector).

The second is a commodity exchange (operating in manufacturing sector).

The third is an energy exchange (operating in infrastructure sector).

All three exchanges are listed. Also, they are perceived by investors as the gateway to the long-term prosperity of the underlying sector they operate in.

Which one could be a future multibagger?

Tanushree Banerjee co-head of research at Equitymaster, answers these questions in below video.

VST Industries Q3 Profit Tanks

In news from the food and tobacco sector, VST Industries shares fell 4% today after the tobacco player's net profit tanked 32% for the October-December quarter of the fiscal year 2023-24.

The net profit for the December quarter came in at Rs 537.2 m, compared to Rs 789.8 m in the same quarter in FY23.

VST Industries reported nearly 6% on-year growth in revenue from operations to Rs 4.7 bn for the quarter ended December 2023, compared to Rs 4.4 bn in the corresponding quarter in the previous year.

On 2 January, ace investor Radhakishan Damani bought 2.22 lakh shares in the tobacco company, taking his total stake to over 30%.

Before the block deal, Radhakishan Damani had a 25% stake in the cigarette maker, through his investment arm Bright Star Investments.

For more about this bulk deal, check out Ace Investor Radhakishan Damani Adds Stake in this High Dividend Yield Stock.

VST Industries manufactures and markets cigarettes and also trades in unmanufactured tobacco. The company has two cigarette-making facilities in Hyderabad and has five major brands, Total, Charms, Moment, Special, and Edition, with a direct distribution reach of over 1.1 million outlets.

Hero MotoCorp Jumps 3%. Here's why.

Moving on to news from the auto sector, shares of Hero MotoCorp traded 3.1% higher after the company announced the launch of two new bikes, the Xtreme 125R and a special collector's edition named 'Hero Forever'.

The new Xtreme 125R is available at Hero MotoCorp dealerships in two variants, priced at Rs. 95,000 for IBS and Rs. 99,500 for ABS.

The company also unveiled the Maverick 440 at its Centre of Innovation and Technology (CIT) in Jaipur. The company has said that the new bike will be available in its flagship showrooms.

Not just the new launches, but the sentiment for the stock also comes on the back of a new facility for assembling products in Nepal in partnership with CG Motors.

The two-wheeler major is set to establish a manufacturing facility in the Nawalpur district with an annual capacity of 75,000 units. Hero aims to commence operations at the facility in March 2024. Hero MotoCorp entered the Nepalese market in 2014 and has since become a prominent player in the country.

To know more, check out Why Hero MotoCorp is Underperforming in the Market.

Hero MotoCorp, one of the top companies in the EV sector could be prime beneficiaries as Nifty heads towards 40,000.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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