Nifty 50 Falls 0.63%, Sensex Drops 671 Points as IT Stocks Drag; Volatility Jumps 6.9%
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The Nifty 50 was trading 0.63 per cent lower, down 150.75 points at 24,426.60. The Sensex also declined 0.85 per cent, slipping 671.21 points to 78,602.12 during the session.
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India’s benchmark indices remained under pressure on Wednesday, weighed down primarily by losses in IT stocks and rising geopolitical concerns. Investor sentiment turned cautious after talks between the U.S. and Iran failed, raising fears that tensions could persist and impact global markets.
The Nifty 50 was trading 0.63 per cent lower, down 150.75 points at 24,426.60. The Sensex also declined 0.85 per cent, slipping 671.21 points to 78,602.12 during the session.
Market volatility increased notably, with the Nifty Volatility Index rising 6.9 per cent to 18.73. The spike in volatility reflects heightened uncertainty in the near term amid global geopolitical developments.
Despite the weakness in frontline indices, broader markets showed resilience. The Nifty MidCap index was trading 0.21 per cent higher, while the Nifty SmallCap index outperformed with gains of 0.65 per cent.
On the sectoral front, the Nifty IT index emerged as the biggest laggard, dragging the overall market lower. The Nifty Healthcare and the Nifty Pharma indices also underperformed during the session. In contrast, the Nifty Construction Durable and the Nifty Metal indices posted gains, providing some support to the broader market.
Disclaimer: The article is for informational purposes only and not investment advice.