Closing Bell: Sensex Plunges Over 500 Points, Nifty Tests 26,000; Here's Why

Stock Market Today (Image Source: iStock) Indian benchmark indices wrapped up the Tuesday, December 2 session in the red zone, with major indices giving up early stability and drifting lower by the close. Persistent selling pressure across sectors dragged the market deeper into negative territory, pulling the Nifty beneath the 26,050 mark. By the end of the trading day, the Sensex had shed 503.63 points, settling at 85,138.27. The Nifty also retreated, finishing 143.55 points lower at 26,032.20. Market breadth reflected the downbeat sentiment: 1,518 stocks managed gains, while 2,453 counters slipped into the red and 158 remained unchanged. The downturn was widespread, with every major sectoral index closing in negative territory. Metal, oil & gas, private banks, consumer durables, and media stocks each logged declines of around 0.5 per cent, signalling broad-based caution among investors. Midcap And Smallcap Segments Struggle The pressure wasn’t limited to frontline stocks. The BSE Midcap index inched slightly lower, while the Smallcap index faced a sharper cut of 0.6 per cent. The weakness in these segments highlighted a risk-off mood that extended beyond blue-chip counters. Top Losers And Gainers Among the Nifty’s biggest laggards were Interglobe Aviation, Reliance Industries, HDFC Bank, ICICI Bank, and Axis Bank, all contributing to the day’s downward drift. On the brighter side, names like Asian Paints, Tech Mahindra, Dr Reddy’s Labs, SBI Life Insurance, and Maruti Suzuki bucked the trend and ended the session with gains, offering some resilience amid the broader market gloom. Vinod Nair, Head of Research, Geojit Investments, noted, "Domestic markets continued to witness profit booking amid worries over the weakening rupee and persistent FII outflows. Meanwhile, the NSE’s sectoral index overhaul in line with SEBI regulations led to corrections in major banking counters. In the near term, fading expectations of an RBI rate cut owing to strong GDP data and the uncertainty around US–India trade discussions may keep investors on edge. Even so, solid domestic macro fundamentals and a strengthening earnings outlook for the second half of the fiscal year are likely to lend support going forward." Get Latest News live on Times Now along with Breaking News and Top Headlines from Business, Companies and around the world. Latest News Priya Raghuvanshi author She is working as a Chief Copy Editor at Times Now’s Business Desk, where she covers key developments in the stock market, Indian corporates across se ... View More News Business Markets End of Article Related News Is The Multibagger Craze Over? Why Ace D-Street Investor Vijay Kedia Investing In Tortoise Stocks Russian Oil or US Trade Deal — Can India Have Both? All Eyes On Modi–Putin Meet Next RBI MPC December 2025: Will Your Home Loan Become Cheaper This Time? Cancer Insurance & Hidden Bills: Why Patients May Lose 20 Years of Savings Despite Rs 10 Lakh Coverage? India's November GST Slumps to Rs 1.70 Lakh Crore: Weakest in 12 Months - Why This Sharp Drop?