Sensex tanks 900 pts intraday; Nifty below 22,900: what's behind mkt crash?
All sectoral indices traded in the red in early trade. Broader markets also faced intense selling pressure as both midcap and smallcap indices were down 1 per cent each.
The Indian stock market experienced a significant decline in early trade, with the BSE Sensex falling over 500 points and the NSE Nifty50 opening below the 23,000 mark. According to the Times of India, the Sensex declined 526.19 points, or 0.71%, to 73,369.55, while the Nifty 50 declined 175.10 points, or 0.76%, to 22,965.40.
All sectoral indices traded in the red, and broader markets also faced intense selling pressure, with both midcap and smallcap indices down 1% each, as reported by Business Standard. The decline was attributed to rising crude oil prices, geopolitical concerns, and continued foreign selling.
Crude oil prices had risen 1.5% to around $106 a barrel, and Asian markets declined 0.2%. The Strait of Hormuz had seen disruptions for the seventh month straight, contributing to the market's cautious tone, as per the Times of India.
Brief written by urgent.news from Business Standard IN, Times of India — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
