HomeMarketsIndian MarketsSensex Falls 523 Points, Nifty Slumps To 19,122

Sensex Falls 523 Points, Nifty Slumps To 19,122

The Indian stock market faced its fifth consecutive session of decline on Wednesday, with both the BSE benchmark Sensex and the broader NSE Nifty 50 experiencing significant drops. This downward trend was attributed to broad-based selling, exacerbated by the ongoing Israel-Hamas conflict. The Sensex slipped by 522.82 points, or 0.81 percent, closing at 64,049.06, while the Nifty 50 plunged by 159.60 points, or 0.83 percent, settling at 19,122.15.

During the intraday session, the Sensex hit a low of 63,912.16, and the Nifty 50 fell to 19,074.15, reflecting the heightened volatility in the market. Notably, several key indices registered substantial losses. Cipla, Apollo Hospitals, NTPC, Adani Enterprises, SBI Life, Divis Labs, Tech Mahindra, Bharti Airtel, ICICI Bank, HDFC Life, Tata Motors, Infosys, IndusInd Bank, Eicher Motors, L&T, Bajaj Finance, Grasim, and Bajaj Auto were among the top losers.

Furthermore, the broader indices also experienced a continuation of the bearish trend, with only the India Vix managing to end in the green. The Nifty 100 recorded a 0.81 percent decline, while the Nifty 200 and Nifty 500 fell by 0.78 percent and 0.76 percent respectively. The Nifty Midcap 50 and Nifty Midcap 100 indices also witnessed losses of 0.66 percent and 0.65 percent, underscoring the widespread nature of the downturn.

Amidst this downturn, the metal and pharma sectors emerged as the sole green spots. The media sector experienced a notable decline of 1.66 percent, followed by financial services 25/50 falling by 1.15 percent, private banks by 0.99 percent, healthcare by 0.98 percent, and realty by 0.96 percent.

In the 30-share Sensex pack, only Tata Steel, M&M, SBI, Maruti Suzuki, and Nestle India managed to close in the green, providing some respite in an otherwise challenging trading session.

The market’s response to the Israel-Hamas conflict underscores the interconnectedness of global events and financial markets. As investors remain vigilant in the face of geopolitical uncertainties, analysts will be closely monitoring developments for potential impacts on the Indian economy and markets in the days ahead.

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