Sensex Today Tanks 802 Points | Trent Down 6% | 3 Reasons Why Indian Share Market is Falling

Tue, 30 Jan Closing

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After opening the day lower, Indian share markets continued the downtrend and ended the day on weak note.

Equity markets fell again, after a day's hiatus, as profit booking in financial, FMCG, pharma, and select IT stocks weighed on the sentiment.

At the closing bell, the BSE Sensex stood down by 802 points (down 1%).

Meanwhile, the NSE Nifty closed down by 215 points (down 1%).

BPCL, Tata Motors and Eicher Motors were among the top gainers today.

Bajaj Finance, Titan and NTP on the other hand, were among the top losers today.

The GIFT Nifty was trading at 21,533 down by 251 points, at the time of writing.

Broader markets ended on mixed. The BSE MidCap index ended 0.5% lower and BSE SmallCap index ended 0.2% higher.

Barring realty sector all other sectoral indices ended mixed with stocks in FMCG sector and power sector and capital goods sector witness selling pressure.

Shares of Bajaj Auto, and Bosch 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 1.8% lower, while the Nikkei index ended flat. Meanwhile Hang Seng ended 2.3% lower.

The rupee is trading at 83.1 against the US$.

Gold prices for the latest contract on MCX are trading 0.2% higher at Rs 62,498 per 10 grams.

Meanwhile, silver prices are trading marginally lower at Rs 72,337 per 1 kg.

Here are three reasons why Indian Markets are falling today.

#1 Rising Oil Prices

Crude oil prices surged to settle at eight-week highs amidst escalating tensions in the Middle East. The Gulf of Aden witnessed a Houthi anti-ship missile damaging an oil tanker, further intensifying regional tensions. Brent prices soared past US$ 83 a barrel in response to these developments.

#2 Selloff in Index Heavyweight stocks

Shares of India's most valued company Reliance Industries (RIL) fell 2.7% and was the second biggest contributor in today's fall. Apart from that Index heavyweights such as ITC, NTPC and Power Grid Corporation of India were the other notable losers.

#3 Weak global cues

China stocks dropped on Tuesday despite regulators' measures to boost market confidence, as sentiment remained fragile after the liquidation of property giant China Evergrande gave a fresh blow to Beijing's shaky real estate market.

China's 10-year government bond yield dropped to the lowest in more than two decades as investors still expect more policy easing to defend equity markets after Beijing announced a cut to bank reserves last week.

Apart from that, Hang Seng too ended 2.3% lower.

Speaking of stock markets, the general elections in India have always played a big role in deciding sentiment in the market.

This may be for right or wrong reasons but the fact can't be denied. Most people who have put their hard-earned money in stocks either as investment or speculation, will be interested in knowing how the elections will impact the market.

Which stocks or sectors will rise in anticipation of the results? Which ones will be on the back foot?

Tue in to the below video to know the stocks likely to benefit from the 2024 general elections.

Tata Motors Hit All-Time High

In news from the auto sector, shares of Tata Motors surged 5% to an all-time high ahead of its Q3FY24 results announcement.

The company's stock has gained significantly on the back of record sales in its Jaguar Land Rover (JLR) volumes in Q3 and its decision to hike prices for its passenger vehicles. The stock has rallied over 10% in the last 1 month.

The company's market capitalisation also surpassed that of Maruti Suzuki at Rs 3.2 trillion (tn).

Multiple factors have triggered the recent rally in the stock. In the previous week, Tata Motors announced it would hike the prices of its passenger vehicles by 0.7% from 1 February 2024. This price hike will include its electric vehicles as well.

Additionally, Jaguar Land Rover division of Tata Motors sold 1.01 lakh wholesale units in the third quarter, which is a 27% YoY increase. It is also the highest wholesale figure in the last 11 quarters.

Tata Motors is the dominant force in the Indian electric vehicle (EV) market.

With a 101% rise in the share price, Tata Motors was the top large-cap gainer of 2023.

Tata Motors remains in the fast lane when it comes to electric vehicles (EVs). The Tata group is leading India's EV revolution, and Tata Motors has remained at the forefront.

The shares of the company are making back-to-back record highs. To know why, check out Why Tata Motors' share price is rising.

Why Tata Investment Corporation's share price is rising

Moving on to news from the finance sector, shares of Tata Investment Corporation Ltd zoomed 20% on 30 January to a record high of Rs 5,794 on the NSE, a day after the company reported a 53% on-year rise in consolidated net profit (PAT) of Rs 532 m for the quarter ended December 2023.

The company's revenue from operations climbed 36.9% on-year to Rs 516 m. Its earnings before interest, tax, depreciation and amortisation (EBITDA) surged 40% on-year to Rs 442 m in Q3.

Tata Investment Corp's EBITDA margins climbed to 87.4% from 83.9% a year ago and the earnings per share (EPS) climbed to Rs 10.5 in Q3 FY24. In addition to the PAT, the holding company also realised profits of Rs 646.5 m on the sale of equity investments credited to retained earnings in the balance sheet.

In the last year, the Tata Investment Corp stock has risen 173.9%, nearly tripling investors' money. In comparison, the benchmark Nifty 50 has risen 23% during this period.

As you're interested in Tata group stocks, check out the new section in our Stock Screener, where you can view the fundamentals of companies within a business group in one screen, including the Top Tata group stocks.

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!

Read the latest Market Commentary

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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Indian Share Market Update: Top Gainers and Losers