Sensex Falls 391 Points, Nifty 50 Slips Below 24,000 as IT, Auto and Bank Stocks Drag Markets
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As of 2:00 PM, the Nifty 50 was down 105 points, or 0.44 per cent, at 23,951, while the Sensex declined 390.57 points, or 0.51 per cent, to 76,709.90.
✨ Key Takeaways
Indian benchmark equity indices traded sharply lower in afternoon trade on concerns over renewed tensions in West Asia, with heavy selling in information technology, automobile and Banking stocks weighing on investor sentiment.
As of 2:00 PM, the Nifty 50 was down 105 points, or 0.44 per cent, at 23,951, while the Sensex declined 390.57 points, or 0.51 per cent, to 76,709.90.
Among the Nifty 50 constituents, Eicher Motors, Kotak Mahindra Bank, and Tata Consumer Products emerged as the Top Losers, reflecting broad-based weakness across key sectors.
The broader market also remained under pressure. The Nifty MidCap index was trading 0.82 per cent lower, while the Nifty SmallCap index fell 0.92 per cent, indicating selling across mid- and Small-Cap stocks.
On the sectoral front, Nifty Pharma and Nifty Healthcare outperformed the broader market and managed to trade in positive territory, providing some support amid the overall weakness. In contrast, the Nifty IT index was the biggest sectoral laggard, leading losses during the session.
Market participants continued to track developments in West Asia, with geopolitical uncertainty keeping investors cautious and prompting profit booking across several heavyweight sectors.
Disclaimer: The article is for informational purposes only and not investment advice.