Rs 3 lakh crore wiped out! Sensex slumps over 600 points, Nifty below 25,200. What spooked the market today? - The Economic Times
Indian stock markets witnessed a sharp sell-off as benchmark indices ended deep in the red, erasing nearly ₹3 lakh crore in investor wealth. The Sensex dropped over 600 points, while the Nifty slipped below the crucial 25,200 mark, reflecting weak market sentiment. The decline was largely driven by heavy selling in banking, IT, and heavyweight stocks amid growing global uncertainties. Concerns over rising bond yields, mixed global cues, and caution ahead of key economic data added pressure on equities. Foreign institutional investors were seen trimming positions, further weighing on market confidence. Midcap and smallcap stocks also faced selling, indicating broad-based weakness. Analysts believe that profit booking after recent highs, along with global market volatility, triggered today’s fall. Despite the decline, experts suggest that the long-term outlook remains stable, advising investors to stay cautious in the near term and focus on fundamentally strong stocks.
The Key points
- Sensex plunged over 600 points in today’s session
- Nifty slipped below the key 25,200 support level
- Nearly ₹3 lakh crore market value wiped out
- Banking and IT stocks led the market decline
- Global market weakness impacted Indian equities
- Rising bond yields dented investor sentiment
- Foreign investors reduced exposure to equities
- Midcap and smallcap stocks also saw losses
- Profit booking followed recent record highs
- Experts advise short-term caution, long-term stability
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