Zomato led the Sensex losers, falling 1.75 per cent to Rs 238.75. Mahindra & Mahindra, Adani Ports, HDFC Bank, Axis Paints, Tech Mahindra, Tata Steel and ITC fell over 1 per cent each.

The market is expected to be under intense pressure with strong headwinds. Brent crude is above $81 per barrel, while sharper than expected surge in US jobs data coupled with consistent FIIs selling and Q3 earnings have taken a toll on the market.

The Indian market closed lower on January 10 after a highly volatile session, with the Nifty falling below 23,350. The decline was driven by broad-based selling across sectors, except for IT stocks, which surged following TCS's better-than-expected Q3 results.

With today's fall, Sensex and Nifty have entered in a correction phase. From its 52-week high of 85,978.25 (touched in September 2024), Sensex has crashed 8,599.34 points or 10 per cent. Likewise, the Nifty 50 index has fallen 2,

Indian stock market benchmarks Sensex and Nifty 50 fell 0.80% in intraday trade on January 9, marking the second consecutive session of decline due to weak global cues and rising US dollar and bond yields.