Mon Jan 13 17:17:41 UTC 2025: ## Stock Market Plunges on Monday, Rupee Hits Record Low
**Mumbai, January 13, 2025** – India’s stock markets experienced a sharp downturn today, with the benchmark BSE Sensex plummeting 1,048.90 points (1.36%) to close at 76,330.01, and the NSE Nifty falling 345.55 points (1.47%) to 23,085.95. The fall comes amidst a weakening rupee, which hit a record low of 86.62 against the dollar—its steepest single-day decline in nearly two years.
The Indian rupee’s fall is attributed to a strengthening US dollar following positive US employment data, coupled with significant foreign investor sell-offs (₹2,254.68 crore on Friday) and rising crude oil prices.
Real estate, media, IT, and telecom sectors bore the brunt of the market crash. Zomato Ltd suffered the most significant loss among Sensex stocks, plunging 6.52%, while Power Grid Corporation of India Ltd and Adani Ports and Special Economic Zone Ltd also experienced substantial declines of 4.09% and 4.08% respectively. Only four Sensex stocks – Axis Bank, Tata Consultancy Services, Hindustan Unilever, and IndusInd Bank – managed to close in positive territory.
Sectoral indices mirrored the overall market trend, with Nifty Realty leading the losses at 6.47%, followed by Nifty Media (4.54%) and Nifty Midsmall IT & Telecom (4.20%). All sectoral indices closed in the red. The market downturn signifies a significant challenge for Indian investors.
First Piper 