Sensex Slides Over 800 Points as Global Tensions Resurface

Stock markets took a sharp hit as the BSE Sensex tumbled over 800 points, weighed down by renewed global geopolitical tensions, weak cues from global markets, and continued foreign fund outflows. The Nifty 50 also plunged, slipping below key psychological support levels, signaling a broad-based selloff across sectors.

Key Highlights

• Sensex closed at 73,850, down 810 points or -1.08%
• Nifty 50 closed at 22,380, down 240 points or -1.06%
• Midcap and smallcap indices also witnessed heavy selling
• FII selling continues amid risk-off sentiment
• IT, Metal, and Financial stocks among top losers

Global Pressure Mounts

Renewed tensions in the Middle East and escalating conflict zones have triggered global volatility, pushing investors towards safer assets like gold and the US dollar. Asian and European markets were also trading lower, reflecting the risk aversion in global markets.

Sectoral Impact

All major sectoral indices ended in the red:

• Nifty Bank fell by 1.4% as major private banks saw profit booking
• Nifty IT dropped over 2% due to US recession fears impacting tech spending
• Nifty Metal declined sharply following a correction in global commodity prices
• FMCG and Pharma showed relative resilience but still ended in negative territory

Expert View

Market analysts suggest that investors are nervous due to growing uncertainty on the global front, especially with crude oil prices inching higher and fears of inflation resurfacing.

“The market correction is a combination of global geopolitical triggers, weak global cues, and caution ahead of US Fed’s policy update. A technical correction was also overdue,” said a senior analyst from Motilal Oswal.

What Should Investors Do?

• Avoid panic selling
• Focus on fundamentally strong stocks
• Stay updated on global developments and interest rate cues

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