The Indian stock market faced a steep decline on Monday, January 13, 2025, as the BSE Sensex plunged 677.22 points (0.88%) to 76,701.69 within minutes of opening. This marked a challenging start to the week, with broad losses across sectors.

Among the Sensex 30 stocks, Zomato Ltd led the declines, falling 2.86% to ₹236.05, followed by Mahindra & Mahindra Ltd (-2.13%) and Power Grid Corporation of India Ltd (-2.07%). Only two stocks, IndusInd Bank Ltd (+2.05%) and Axis Bank Ltd (+0.44%), traded in the green.

Sectorally, Nifty Realty suffered the heaviest losses, dropping 2.06% to 943.50, while Nifty Midsmall Financial Services fell 1.84% to 14,730.20, and Nifty Consumer Durables slid 1.61% to 39,930.70. All sectoral indices were in the red, with Nifty IT declining 0.44% to 44,413.20 after leading gains last week.

The crash coincided with the rupee hitting an all-time low of 86.3537 per dollar, attributed to a strengthening US dollar fueled by positive jobs data.

The market's performance follows a bearish close in the previous session on Friday, January 10, where Sensex dropped 241.30 points (0.31%) to 77,378.91 and Nifty fell 95 points (0.4%) to 23,431.50. While IT stocks like TCS (+5.67%) and Tech Mahindra (+3.78%) led gains, most sectors and stocks ended the week on a sour note.

Amid global headwinds and sectoral challenges, the Indian stock market appears set for a volatile week ahead, with a focus on rupee trends and macroeconomic developments.