Markets End in Bloodbath; Sensex Crashes Over 1,000 Points, Nifty Hits 18-Month Low
What Happened
Indian equities witnessed heavy selling on Thursday, with the Sensex plunging 1,045 points (1.44%) to 71,593.24 and the Nifty 50 falling 371 points (1.64%) to 22,231.80, its lowest close in about 18 months. Selling pressure was broad-based amid rising crude oil prices, continued foreign fund outflows, and concerns after the RBI's recent rate hike and tighter policy stance.
Key Takeaways
Most sectors ended in the red, with metal, oil & gas, and realty stocks among the worst hit. Adani Enterprises, ITC, JSW Steel, Reliance Industries, and Adani Ports were major drags, while Infosys, Tech Mahindra, and Axis Bank were among the few gainers. Market volatility increased sharply, with India VIX jumping around 10%, reflecting heightened investor nervousness.