Stock Market Today: Sensex Falls 445 Points, Nifty Closes Below 24,250 as Private Banks Drag
Indian equity markets ended lower as the Sensex dropped 445 points and the Nifty closed below 24,250, pressured by private-bank stocks, rising oil prices and geopolitical concerns.
Dalal Street slips: Sensex down 443 points, Nifty closes below 24,250
A Rough Day on the Trading Floor
Indian equity benchmarks settled the day deep in the red, after a choppy session on Dalal Street. Key financial counters came under heavy selling pressure after a fresh batch of quarterly corporate scorecards was released. The BSE Sensex plunged 442.93 points or 0.57 per cent to close at 77,708.52. The broader NSE Nifty 50 declined 95.80 points to close at 24,238.50, below the crucial 24,250 level.
Big Names in Banking and Global Winds Weigh In
The day’s correction was led by heavyweight private lenders such as Axis Bank and HDFC Bank, which saw heavy selling after their earnings announcement. Jittery investors also wrestled with external headwinds including a sharp spike in global crude oil prices past the $90-per-barrel mark fueled by rising geopolitical tensions. While the frontline indices suffered, the broader market showed inspiring resilience. Midcap and smallcap gauges managed to eke out modest gains as bargain hunters stepped into selective pockets.
Sectoral Divergence and the Future
There were big differences in how sectors performed. Nifty Private Bank and financial services took the brunt of the correction but defensive sectors such as Nifty Pharma, PSU Bank and Energy rallied to cushion the broader fall. As the corporate earnings season gathers pace, market participants are eyeing upcoming financial results and management commentaries closely.
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