Sensex cracks 700 pts intraday, Nifty below 23,250: 5 factors behind crash
Stock market crash: Most sectoral indices, barring pharma, traded with deep cuts. Banking and financial services stocks were the top drags in trade today.
The stock market experienced a downturn, with the Sensex dropping over 700 points intraday and the Nifty falling below 23,250. Most sectoral indices traded with significant losses, led by banking and financial services stocks, according to Business Standard.
However, Hindu BusinessLine reported a different picture, stating that sectorally, metals and banking stocks led advances, while IT stocks remained subdued. Almost all sectoral indices closed in positive territory on the NSE, with Nifty Metal gaining over 2% and Nifty FMCG rising 1.27%.
Nifty IT was the major sectoral laggard, falling more than 1%, while Nifty Media declined 0.63%, as per Hindu BusinessLine. Brent crude oil prices were trading below $100 per barrel. The rupee opened at 95.58 against the US dollar and touched an intraday high of 95.57.
Brief written by urgent.news from Business Standard IN, Hindu BusinessLine — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Sensex crashes over 1,200 points, Nifty below 23,100: Why markets are falling today timesofindia.indiatimes.com
- Sensex slides 813 points, financial stocks tumble as crude oil and bond yields pressure markets thehindubusinessline.com
- Sensex crashes 1,248 points as 5 villains run riot economictimes.indiatimes.com
