The Indian stock market witnessed a significant decline on January 23, with the benchmark NIFTY 50 index ending deep in the red. The index closed at 25,048.65, registering a sharp drop of 241.25 points or 0.95% from its previous close. A major sell-off in heavyweight stocks, particularly Adani Enterprises, dragged the market sentiment down.
What were the key market levels today?
The market opened higher but failed to sustain the momentum. The selling pressure increased as the day progressed, pulling the index near the day’s low by the closing bell.
| Parameter | Value |
|---|---|
| Open | 25,344.60 |
| High | 25,347.95 |
| Low | 25,025.30 |
| Close | 25,048.65 |
Why did the market fall so sharply?
The primary reason for today’s slump was the heavy selling in Adani Enterprises, which crashed by 10.65% to close at 1,864.20. The overall breadth of the market was weak, with 37 out of the 50 NIFTY stocks ending with losses. Only 13 stocks managed to advance in this volatile session.
What is the 52-week performance of NIFTY?
Despite today’s fall, the index remains significantly above its yearly lows. The 52-week high stands at 26,373.20, while the 52-week low is recorded at 21,743.65. Investors are currently cautious as the year-to-date return has dipped to -4.20%.
