Stock Market Crash: Sensex Plunges 957 Points, Nifty Slips Below 22,900 As HDFC Bank, Global Cues Drag Markets Lower

Mumbai: Indian stock markets witnessed a sharp selloff on Monday, October 19, with the Sensex and Nifty falling to their day's lows as selling pressure intensified across banking and other major stocks.

At 1:30 PM, the BSE Sensex stood at 73,771.80, down 957.48 points or 1.28 percent. The NSE Nifty 50 declined 271.70 points or 1.17 percent to 22,874.45.

The Sensex touched an intraday low of 73,771.06, while the Nifty slipped to 22,861.05.

HDFC Bank Shares Under Pressure

Banking stocks were among the major contributors to the market decline.

HDFC Bank shares fell nearly 2 percent following its Q2 FY27 financial results, emerging among the top Nifty 50 losers.

Investors remained concerned about pressure on net interest margins (NIM) and slower earnings growth.

Despite several brokerages maintaining positive views on the stock, banking shares weakened. Bank Nifty declined around 0.5 percent.

Weak Global Market Signals

Negative global cues added to selling pressure.

Asian markets traded lower amid concerns over heavy investments in artificial intelligence and their financing.

The MSCI Asia-Pacific index declined 0.5 percent.

Wall Street also ended Friday lower, with the Nasdaq falling 2.19 percent, S&P 500 declining 1.22 percent and Dow Jones losing 0.55 percent.

Elevated Crude Oil Prices

Crude oil prices remained another concern for investors.

Brent crude declined 1.5 percent to USD 108.27 per barrel, while WTI crude slipped 0.6 percent to USD 100.83.

Despite the decline, elevated oil prices and geopolitical tensions continued to create uncertainty.

India VIX Jumps 4 percent

India VIX, which measures expected market volatility, increased nearly 4 percent to 14.52.

The rise indicated growing nervousness among investors about further market fluctuations.