Stock Markets Crash As Sensex Falls Over 900 Points, Nifty Closes Above 23,700The Indian benchmark indices crashed as the Sensex declined more than 800 points to settle at 76,668.13 points and the Nifty fell 228 points to close trade 23,768.45 at 3:30 PM.
Previously, during the early morning session, Indian equity markets opened lower, weighed down by weak trends across Asian markets and continued foreign fund outflows. The 30-share BSE Sensex fell 938.55 points or 1.21 per cent to an intra-day low of 76,624.35. The 50-share NSE Nifty declined 237.9 points or 0.99 per cent to 23,759.45.
Global Markets
Across Asia, markets slipped following a sharp rally in the previous session. South Korea’s Kospi, Japan’s Nikkei 225, Shanghai’s SSE Composite and Hong Kong’s Hang Seng index all traded lower.
In contrast, US markets ended significantly higher on Wednesday. The Dow Jones Industrial Average jumped 2.85 per cent, the Nasdaq Composite surged 2.80 per cent, and the S&P 500 climbed 2.51 per cent.
FII Selling Continues, DIIs Provide Support
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,811.97 crore on Wednesday, according to exchange data.
Domestic Institutional Investors (DIIs), however, bought stocks worth Rs 4,168.17 crore.
Geopolitical Concerns Weigh On Sentiment
Market sentiment remained cautious amid geopolitical tensions. “Concerns have resurfaced after Iran signalled potential ceasefire breaches amid continued Israeli strikes in Lebanon, limiting follow-through optimism and keeping global risk sentiment in check,” said Hariprasad K, Research Analyst and Founder, Livelong Wealth.
Previous Session Saw Sharp Gains
The decline comes after a strong rally in the previous session. On Wednesday, the Sensex surged 2,946.32 points or 3.95 per cent to settle at 77,562.90, while the Nifty jumped 873.70 points or 3.78 per cent to close at 23,997.35.
