Stock Market Tumbles Amid Global and Domestic Challenges

The stock market witnessed a sharp decline as both Sensex and Nifty suffered losses due to global and domestic uncertainties. Key sectors faced broad-based selling, with investor sentiment dampened by tepid earnings and INR depreciation. Volatility is expected to persist amidst upcoming economic events.

The stock market took a severe hit on Monday as Sensex and Nifty experienced significant downturns. The Sensex dropped by 824.29 points to 75,366.17, while Nifty fell by 263.05 points, closing at 22,829.15, amid a bleak investor sentiment driven by global and domestic challenges.

The market breadth turned overwhelmingly negative, with just eight companies in the Nifty advancing, and 42 declining. Notable gainers included Britannia, ICICI Bank, and Hindustan Unilever, whereas major losers comprised HCL Tech and Tech Mahindra, indicating a broad-based sell-off across sectors.

Vinod Nair, Head of Research at Geojit Financial Services, attributed the downfall to all-round selling pressure, weakened earnings, and subdued sentiments globally. He highlighted the ongoing US trade confrontations and the depreciating Indian rupee as factors exacerbating the market's woes. Analysts anticipate continued volatility in the market amid upcoming economic events.

(With inputs from agencies.)