Mon Jan 13 13:09:54 UTC 2025: ## Indian Markets Plunge on Monday, Rupee Hits Record Low

**Mumbai, January 13, 2025** – Indian equity markets experienced a significant downturn today, with the Sensex plummeting 1,049 points to 76,330 and the Nifty falling 346 points to 23,086. This marks the fourth consecutive day of losses and follows a 2.5% drop last week. The broader market suffered even more severely, with midcap and small-cap indices each falling 4%, their biggest single-day declines in eight and five months respectively. The total market capitalization of BSE-listed companies decreased by nearly ₹15 lakh crore.

The Indian Rupee also hit a record low of 86.59 against the US dollar, experiencing the largest single-day fall among global currencies. This sharp decline is attributed to a strengthening dollar index and rising US yields following strong December jobs data. Stop-loss orders triggered on short dollar bets further exacerbated the situation.

Several sectors bore the brunt of the sell-off. Adani stocks were significantly impacted, with Adani Enterprises leading the Nifty losers. Realty stocks also suffered heavy losses, with Macrotech down 9% and Godrej Properties and DLF each falling 5%. Rising crude oil prices pushed Oil Marketing Companies (OMCs) like BPCL, HPCL, and IOC down 5-6%. Several companies releasing Q3 earnings also saw declines.

Only five Nifty 50 stocks – Axis Bank, TCS, HUL, IndusInd Bank, and HCLTech – managed gains in the otherwise weak market. While TCS is expected to announce its Q3 results today, analysts predict a 4% revenue increase and a 9% profit increase sequentially. However, a potential revision of their FY25 revenue guidance remains a key factor to watch.

Sanjay Mookim of JPMorgan India projects 11-12% earnings growth for Indian equities in 2025. Despite this positive outlook, the Nifty’s breach of key support levels underscores the severity of the current market downturn. The negative market sentiment is further amplified by concerns surrounding the ongoing Maha Kumbh Mela in Prayagraj, as historical patterns suggest potential dips during this period. CNBCTV18.com provides live updates and further analysis.

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