Stock Market Today LIVE Updates: Sensex crashes 500 points as rupee plunges past 91 mark — More pain ahead?

Stock market today LIVE updates: The Indian stock market’s benchmark indices extended losses after opening in the red on Tuesday, December 16, amid across-the-board selling. Persistent foreign investor selloff and lack of updates on the India-US trade deal are weighing on sentiment.

BSE Sensex lost almost 500 points to hit a low of 84,718, while the Nifty 50 slipped below the 25,900 mark today. Axis Bank, Eternal, and Reliance Industries emerged as the biggest index drags in trade.

All 16 major sectoral indices opened in the red, though losses remained modest. Small-cap and mid-cap stocks fell in tandem, losing 0.56% and 0.75%, respectively.

The benchmarks have been range-bound over the past two weeks after scaling record highs on December 1, as markets grapple with a lack of fresh catalysts.

Meanwhile, the Indian rupee plunged to a fresh record low in early morning trade to 90.82 against the US dollar.

Market Outlook

Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said, “The market is moving into a consolidation mode in the near-term. Since sustained FII selling is easily getting absorbed by DII buying, and economic fundamentals are indicating significant improvement, the market will find support in weakness.”

The weakening of the AI trade continues in the US. Chances are that at some point in 2026, AI trade will weaken significantly, facilitating capital flows into EMs like India, he said. “However, if the market is to show sustained strength, earnings recovery is essential. Q3 numbers will indicate where earnings recovery is happening. Bank Nifty will continue to be strong.”

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