Indian stock markets experienced a sharp selloff on Thursday, with the Sensex plunging over 2,700 points to an intraday low of 74,001 while the Nifty slipped below 23,000. The decline wiped out approximately Rs 13 lakh crore in market capitalisation. Soaring crude oil prices above $116 and hawkish Federal Reserve commentary emerged as primary triggers for the downturn. All 30 Sensex constituents traded in the red, with Eternal shares leading losses by falling more than 5%, followed by Bajaj Finance, M&M, and HDFC Bank declining 4-5%. Sectoral indices showed broad-based weakness, with Nifty Auto down over 4% and Nifty Realty declining nearly 4%. The Fed's decision to maintain interest rates and project higher inflation amid geopolitical tensions added pressure on investor sentiment globally.
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