The Indian stock market closed deep in the red on Tuesday, November 4, as profit booking and weak global cues weighed heavily on investor sentiment. With benchmark indices tumbling across the board, investors collectively lost over ₹2 lakh crore in a single trading session.
The Sensex shed 519 points or 0.62% to close at 83,459.15, while the Nifty 50 ended 166 points lower at 25,597.65. Broader market indices followed suit, with the BSE Midcap falling 0.26% and the Smallcap index declining 0.69%, reflecting widespread selling pressure across segments.
Global Weakness and Profit Booking Weigh on Markets
Tuesday’s slump came amid heavy global selloffs and growing investor anxiety over Wall Street’s inflated valuations—especially within AI and mega-cap tech sectors. Analysts warned that the U.S. markets could be nearing a correction phase, prompting global investors to lock in profits.
Major global indices mirrored this risk-off sentiment. France’s CAC 40, Germany’s DAX, and the UK’s FTSE 100 each fell up to 2%, while South Korea’s Kospi plunged over 2% and Japan’s Nikkei declined more than 1%. Dow Jones futures also slipped close to 1%, adding further pressure to Asian equities.
According to Vinod Nair, Head of Research at Geojit Investments, “Indian equity markets ended lower, tracking weak global cues and broad-based selling across IT, metal, and power sectors. Investor sentiment remained cautious ahead of the holiday-shortened week.”
Sectoral Indices: Metals, IT, and Power Drag Markets Down
The decline was broad-based, with almost every sector facing the heat.
- Nifty Metal and IT indices fell over 1%, reflecting weakness in global commodity and tech sentiment.
- Auto stocks slipped nearly 1%, while Nifty Bank and Financial Services lost up to 0.5%.
- The only pocket of resilience came from Nifty Consumer Durables, which managed a 0.39% gain, supported by festive buying optimism.
Market Movers: Titan, Bharti Airtel, and Bajaj Finance Shine
Among Nifty 50 constituents, only eight stocks managed to close in positive territory. Titan Company, Bharti Airtel, and Bajaj Finance emerged as the top gainers, each rising between 1% and 2%.
On the losing side, Power Grid Corporation, Eternal, and Adani Enterprises declined up to 3%, dragging the indices lower.
Investors Lose ₹2 Lakh Crore in Market Capitalisation
The combined market capitalisation of BSE-listed firms fell from ₹472.5 lakh crore to below ₹470 lakh crore, translating into a ₹2 lakh crore loss in investor wealth. The lack of fresh domestic catalysts compounded by negative global momentum accelerated profit booking across sectors.
Most Active Stocks and Market Breadth
On the NSE, Vodafone Idea (113.6 crore shares), Suzlon Energy (31.7 crore), and YES Bank (13.95 crore) topped the volume charts, highlighting retail participation in mid- and small-cap counters despite the broader selloff.
Out of 4,329 stocks traded on the BSE, 1,622 advanced, while 2,540 declined, and 167 remained unchanged.
Meanwhile, 145 stocks, including SBI, Bharti Airtel, Titan, and Indian Oil Corporation, touched fresh 52-week highs, even as 91 stocks such as Delta Corp, Jindal Saw, and Westlife Foodworld slumped to their 52-week lows.
Outlook: Short-Term Volatility Ahead
Analysts expect volatility to persist as global markets adjust to concerns about overvaluation in tech stocks and possible interest rate shifts. Domestic traders are also likely to remain cautious ahead of the upcoming festival holiday period and fresh macroeconomic data releases.
“Until global clarity improves, Indian markets could continue to see range-bound movement with intermittent selloffs,” said a Mumbai-based fund manager.
