Sensex slides 813 points, financial stocks tumble as crude oil and bond yields pressure markets
Financial stocks led the decline as broad-based selling intensified, while crude oil and elevated US Treasury yields weighed on sentiment
The Sensex and Nifty 50 both experienced significant declines on Wednesday, with the Sensex falling 813.20 points (1.09%) to 74,015.05 and the Nifty 50 slipping 265 points (1.13%) to 23,181.80. This decline was in contrast to the sharp opening gap, as the Sensex opened at 74,272.40 and the Nifty 50 at 23,221.80. Financial stocks, particularly HDFC Life Insurance, Bajaj Finance, Axis Bank, and Bajaj Finserv, led the losses across various sectors.
The Nifty’s Advance-Decline Ratio stood at 7:43, indicating the breadth of the selling. Nifty Realty was the top performer, while Nifty Private Bank was the worst. Technical analysis suggests support at 23,040-23,060 for the Nifty and 73,700-74,500 for the Sensex.
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