Stock market crash: Sensex tanks 700 points, Nifty50 below 22,400 - key reasons
Indian stock markets experienced a sharp decline, with the Sensex and Nifty50 falling by approximately 1% following the RBI's shift to a 'calibrated tightening' policy stance. Investors are reacting to concerns over inflation, interest rate hikes, and global geopolitical instability.
Why it matters
The market downturn reflects investor anxiety over the central bank's monetary policy and its potential impact on corporate valuations.
Stock market crash today: BSE Sensex and Nifty50, the Indian equity benchmarks, crashed in trade on Thursday, with both indices down around 1%. Investors reacted to the RBI’s policy tightening and repo rate hike, continued FII selling and other negative factors.At around 12:02 PM, Nifty50 was trading at 22,357.85, down 245 points or 1.08%. BSE Sensex was at 71,947.85, down 691 points or 0.95%. The sharp decline erased nearly Rs 8.5 lakh crore from the combined market capitalisation of companies listed on the BSE.ITC, Adani Ports, IndiGo, Power Grid and Reliance Industries (RIL) were among the biggest losers on the Sensex, with their shares declining as much as 4%.
Also covering this story
2 other newsrooms covered this event. We read each version separately.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in