Market at Close | Sensex falls 548 points as Midcaps underperform; Nifty Metal drops 3%

Market at Close | The stock market extended its losing streak for the fourth consecutive session on Monday (February 10), with the Sensex declining 548 points to close at 77,312 and the Nifty dropping 178 points to 23,382. This marks the longest losing run in two months.

From the Sensex basket, Kotak Mahindra Bank, Bharti Airtel, HCL Technologies, Tech Mahindra, ICICI Bank and Wipro were the major gainers. Power Grid Corporation of India, Tata Steel, Titan Company, JSW Steel, Bajaj Finance and Mahindra & Mahindra were the biggest laggards.

Midcap stocks bore the brunt of the selling pressure, with the Nifty Midcap index falling 2.1% (1,138 points) to 52,471, underperforming the 1% drop in large-cap indices. Nearly 40 Nifty stocks closed in the red, with some falling as much as 5%.

Also Read: As FPI sell-off nears $10 billion, mid and small-cap stocks bleedUS tariff announcements weighed on the metal sector, dragging Nifty Metal down by 3%. Among individual stocks, Trent erased Friday’s gains and ended as the worst Nifty performer, down 5%. M&M closed 2% lower despite a strong Q3 report, while Alkem Laboratories lost nearly 7% as its cautious outlook dampened sentiment.

Oil India slumped 5% after posting weak Q3 earnings, while REC and PFC declined 4% despite REC maintaining its FY25 loan growth outlook. Meanwhile, Delhivery and Sun TV each shed 4% after reacting negatively to their quarterly results.

On the upside, Escorts Kubota edged up 1% ahead of its earnings release, and Varroc Engineering rebounded 13% from intraday lows to end 3% higher on mixed Q3 results. The broader market sentiment remained negative, with the advance-decline ratio standing at 1:4.

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