Sensex, Nifty fall sharply as broader markets weaken, rupee at fresh low

The stock market ended sharply lower on Tuesday, with selling pressure intensifying in broader markets, as a weaker rupee, stock-specific disappointments and continued caution among investors dragged sentiment.

The benchmark Sensex fell 534 points to close at 84,680, while the Nifty 50 slid 167 points to 25,860, settling below the 25,900 mark. Market breadth remained firmly negative, with 38 of the 50 Nifty constituents ending in the red.

The sell-off was deeper outside the frontline indices. The Nifty Midcap 100 dropped 502 points to 59,711, underperforming the benchmarks, while the Nifty Bank index declined 427 points to 59,035.

Pressure on domestic assets was compounded by weakness in the currency. The rupee hit a fresh record low of 91.08 per dollar during the session and has fallen more than 1% over the past five trading days, weighing on investor sentiment.

Among midcaps, PB Fintech, Bharat Dynamics, SAIL and Jubilant FoodWorks were among the top losers, falling between 3% and 5%. Insurance stocks ended largely lower, with PB Fintech tumbling nearly 6%, after concerns around the insurance bill dampened sentiment.

In the banking space, Axis Bank slid more than 5% after management flagged continued net interest margin pressure in the third quarter. RBL Bank fell over 1% after the company said its chief financial officer, Buvanesh Tharashankar, will step down effective December 15, 2025.

Some stocks, however, bucked the broader weakness. Vedanta rebounded nearly 5% from intraday lows after the National Company Law Tribunal approved its demerger plan. Bharti Airtel rose close to 2% after Morgan Stanley raised its target price on the stock.

In the broader market, Epack Durables surged nearly 16%, posting its biggest single-day gain since listing. Fertiliser stocks advanced, with FACT gaining 5%, after supportive comments from the finance minister in Parliament.

On the downside, Ola Electric fell nearly 8% to end at the day’s low, while Hindustan Zinc snapped a five-day winning streak and closed lower.

Overall market breadth reflected sustained selling pressure, with the NSE advance-decline ratio at 1:2, underscoring the risk-off tone in equities.