Stock Market Today: Sensex Tanks 893 Points, Nifty Ends Below 23,900

Domestic equity benchmarks ended significantly lower on Tuesday as sustained selling in metal, information technology, and public sector banking counters weighed heavily on market sentiment.

Weak global cues and persistent uncertainty in international markets further dampened investor confidence.

The BSE Sensex plunged 893.39 points, or 1.16 per cent, to settle at 76,200.68. The NSE Nifty shed 278.80 points, or 1.16 per cent, to close at 23,824.10.

Investors remained cautious throughout the trading session as concerns over global economic growth and fragile market conditions triggered broad-based profit booking.

Early optimism faded quickly as sellers dominated most sectors.

Among the key underperformers on the Nifty index were Infosys, JSW Steel and Tata Consultancy Services, all of which faced substantial selling pressure.

Broad Market Weakness Continues

The negative sentiment spread across the broader market as well. The Nifty MidCap index declined 1.05 per cent, while the Nifty SmallCap index slipped 0.48 per cent.

Sectoral indices reflected widespread weakness. The Nifty Metal index emerged as the biggest casualty, tumbling more than 3 per cent.

The Nifty IT and PSU Bank indices also ended lower as investors reduced exposure to technology and banking stocks.

The technology sector remained under severe pressure amid a global sell-off.

Every constituent within the index closed in negative territory, with losses reaching up to 3 per cent.

Defensive segments offered limited support. The Nifty Pharma and Nifty Healthcare indices outperformed the broader market as investors shifted towards relatively stable sectors during heightened volatility.

Market experts stated that weak international cues and profit booking after the recent rally intensified selling pressure.

Although stable crude oil prices and easing geopolitical tensions provided some relief, investors continued to monitor monsoon progress and ongoing India-US trade negotiations with caution.

Also Read: Mundra International Airport Begins Commercial Operations With Star Air Flight