Global Cues Trigger Market Turmoil: Major Indices Dive

Stock markets faced a severe sell-off, with benchmark indices ending deeply in red. Sensex plunged by 1,048.90 points, finishing at 76,330.01, while Nifty dropped 345.55 points to 23,085.95. Most sectors suffered significant declines due to unfavourable global cues and economic uncertainties, indicating volatile days ahead.

The stock market experienced a sharp sell-off today, with benchmark indices closing the session in steep decline. The Sensex fell by 1,048.90 points, settling at 76,330.01, while the Nifty index dropped by 345.55 points, ending at 23,085.95. Of the 50 firms in the Nifty, 46 saw declines, with only four managing to stay positive.

Top performers included TCS, IndusInd Bank, Axis Bank, and Hindustan Unilever. Conversely, Adani Enterprises, Trent, BPCL, BEL, and Power Grid recorded significant losses. Analysts attribute this dramatic downturn to negative global cues, with Vinod Nair from Geojit Financial Services highlighting strong US payroll data as a cause for fewer expected rate cuts in 2025, which has strengthened the dollar and increased bond yields.

Experts advise caution, forecasting further market volatility due to domestic and international factors, including the 2025 budget and forthcoming corporate earnings reports. The broader market sentiment remains bearish amidst geopolitical tensions and global economic challenges, with most sectors witnessing considerable declines throughout the session.

(With inputs from agencies.)