Late Sell-Off Shakes Dalal Street, Sensex Crashes 852 Pts While Nifty Drops 205 Points Below Key 24,200 Level Amid Banking & IT Weakness

Mumbai: Indian stock markets closed lower for the second straight day. The BSE Sensex fell sharply by 852 points to end at 77,664. Meanwhile, the Nifty 50 dropped 205 points to close at 24,173.

The most worrying sign for investors was that Nifty closed below the important 24,200 level, showing weakness in the market.

Sharp Fall in the Last Hour

The market remained volatile throughout the day. After opening at 24,202, Nifty first fell, then recovered strongly to touch a high of 24,310.

However, selling pressure increased in the last hour, especially in the final 31 minutes. This dragged the index close to its day’s low by closing time.

Banking, IT and Auto Stocks Drag Market

The biggest pressure came from banking stocks. The Nifty Bank fell 819 points to close at 56,305.

IT and auto stocks also weakened the market. Infosys dropped around 3%, while Larsen & Toubro slipped around 2 percent. Auto stocks like Ashok Leyland also remained under pressure.

Pharma Stocks Shine in Weak Market

Amid the overall weakness, pharma stocks gave some relief. Dr. Reddy's Laboratories surged more than 9 percent.

This helped the pharma sector close in the green, even as most sectors ended in the red.

Winners and Losers of the Day

Some stocks stood out as winners. Jio Financial Services gained around 4 percent after a joint venture announcement. Oracle Financial Services Software jumped over 9 percent, while Delta Corp hit a 20 percent upper circuit.

On the losing side, Trent fell 4 percent despite good results. Union Bank of India dropped more than 8 percent, and Havells India declined about 7 percent.

6 Key Reasons Behind Market Fall

The fall in the market was due to multiple reasons. Rising crude oil prices, with Brent Crude near USD 104 per barrel, increased inflation concerns.

Tensions in the Strait of Hormuz also worried investors. Weak global cues, especially from US markets, added pressure.

Heavy selling in banking stocks, profit booking after recent gains, and investors moving away from risky assets further dragged the market down.

Late Sell-Off Shakes Dalal Street, Sensex Crashes 852 Pts While Nifty Drops 205 Points Below Key 24,200 Level Amid Banking & IT Weakness

Indian markets fell sharply with Sensex down 852 points and Nifty below 24,200. Banking, IT and auto stocks led losses, while pharma stocks gained. Rising crude oil, global weakness, profit booking and geopolitical tensions triggered heavy selling, especially in the final hour of trade.