Stock taking: After hitting a new peak, the market declines; midcap and smallcap decline

 Stock taking: After hitting a new peak, the market declines; midcap and smallcap decline

Adani Ports, Adani Enterprises, UPL, Tata Steel, and Coal India are among the top losses on the Nifty, whilst ONGC, Tata Consumer Products, Britannia Industries, and HDFC Bank are among the top gainers.

In a couple of hours, the market moved from a fresh high to a sharp collapse as widespread selling caused the benchmark to erase its morning gains and close on December 20 close to the day's low.

In the end, the Nifty was down 302.90 points, or 1.41 percent, at 21,150.20, while the Sensex was down 930.88 points, or 1.30 percent, at 70,506.31.

In the first hour of trading, the Sensex touched 71,913.07 and the Nifty reached 21,593, marking new highs for the market.

The index closed close to its lowest point of the day after a sharp decline in the middle of the session erased all advances.

Sector and Stock

Adani Ports, Adani Enterprises, UPL, Tata Steel, and Coal India are among the top losses on the Nifty, whilst ONGC, Tata Consumer Products, Britannia Industries, and HDFC Bank are among the top gainers.

Every sectoral index had a negative closing. There was a 2–4% fall in Auto, Capital Goods, Metal, Pharma, Oil & Gas, Power, and Realty.

The BSE smallcap and midcap indexes saw a decline of over 3%.