Business

Sensex Plummets 1,300 Points, Nifty Hits Four-Month Low Amid Broad Sell-Off

The Indian stock market took a sharp dive on Monday, with major indices trading deep in the red by mid-session as sell-off hit auto, metal, real estate, and energy sectors hard.

By noon, the BSE Sensex had plummeted 1,317 points, or 1.65%, to 78,609. The NSE Nifty, meanwhile, slid 441.80 points, or 1.82%, landing at 23,862.55 — its lowest level in four months.

In the Sensex pack, nearly all stocks were trading lower, with Mahindra & Mahindra (M&M) and Tech Mahindra being the only exceptions. Top laggards included heavyweights such as Sun Pharma, Reliance, NTPC, Tata Motors, Power Grid, and Tata Steel. Across sectors, the downturn was nearly universal, with auto, IT, public sector banks, financial services, pharmaceuticals, FMCG, metal, real estate, media, private banks, infrastructure, and commodities taking significant hits.

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By early afternoon, the Nifty Bank index had tumbled to 51,097.95, down 575.95 points or 1.11%. The Nifty Midcap 100 index also suffered, dropping 824.85 points or 1.46% to reach 55,671.20, while the Nifty Small Cap 100 index fell 410.75 points, or 2.19%, settling at 18,384.

Market breadth on the BSE was notably negative, with only 1,062 stocks trading higher against 2,856 in the red. Another 131 stocks remained unchanged.

Analysts suggest that global market sentiment is likely to remain cautious in the lead-up to the US presidential election, adding a layer of volatility to domestic markets as investors brace for potential shifts in global economic policy.

Shibra Arshad

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