Sensex crashes over 1,200 points, Nifty below 23,100: Why markets are falling today
Indian stock markets, including the Sensex and Nifty, experienced a significant decline of over 1.5% due to rising US bond yields and concerns over potential Federal Reserve rate hikes. The selloff was broad-based, affecting both large-cap and mid-cap stocks across various sectors.
Why it matters
The market downturn highlights the sensitivity of Indian equities to global macroeconomic shifts, particularly US interest rate policies and bond market volatility.
Stock market crash today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, tanked in trade on Thursday on weak global cues and a sharp rise in US yields.The stock market came under heavy selling pressure, with the Sensex and Nifty declining nearly 1.5% as a sharp rise in bond yields to 19-year highs added to investor concerns.At 2:15 PM, Nifty50 was trading at 23,076.55, down 370 points or 1.58%. BSE Sensex was at 73,673.50, down 1,155 points or 1.54%.Bajaj Finance emerged as the biggest drag on the Sensex, with its shares plunging more than 5%. Axis Bank and Bajaj Finserv also came under significant pressure, declining 3-4%. Shares of IndiGo, Kotak Mahindra Bank, Asian Paints, HDFC Bank and Trent were lower by 1-2%.The selloff was not limited to large-cap stocks.
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