Sensex sinks 3,200 points in 6 days, Nifty nears 1,000-point drop as market crash deepens

Sensex drops over 860 points to 75,430.23, Nifty falls 260 points to 22,814.50, marking sixth consecutive decline
All sectoral indices except Nifty IT in red, with Realty and Media sectors falling 2.62% and 2.53%, respectively
Over 3,200-point drop in Sensex, nearly 1,000-point dip in Nifty, 433 Nifty and 556 Sensex stocks hit lows

The Indian stock market continued its sharp decline for the sixth consecutive session on Wednesday, with the Sensex and Nifty hitting fresh intraday lows. At around 10:05 AM, Sensex was down over 860 points at 75,430.23, while Nifty fell nearly 260 points to 22,814.50. The sustained selloff has led to a cumulative loss of nearly 3,200 points in Sensex and close to 1,000 points in Nifty over the past six sessions.

All sectoral indices, except Nifty IT, were in the red. Nifty Realty, which had already seen a steep fall on Tuesday, dropped another 2.62%, while Nifty Media declined 2.53%. The broader markets saw deeper cuts, with the Nifty Smallcap 250 index sinking over 3% and the Nifty Microcap 250 index falling 2.92%. Nifty IT was the only sector showing resilience, posting a marginal gain of 0.28%.

Among the worst-hit stocks on Sensex were Mahindra & Mahindra, Zomato, Reliance Industries, Adani Ports, and IndusInd Bank. On the Nifty index, Reliance Industries, Bharat Electronics Limited, Axis Bank, and Bharat Petroleum Corporation Limited were among the top losers. A record 433 Nifty stocks and 556 Sensex stocks hit their respective 52-week lows, signaling widespread market weakness.

The ongoing market correction has raised concerns among investors as the indices continue to slide without any signs of recovery. The sharp decline has been attributed to weak global cues, foreign institutional investor (FII) selling pressure, and volatility in key sectors. Analysts have pointed out that macroeconomic factors, including inflation concerns and interest rate uncertainties, are contributing to the market downturn.

Over the past six sessions, investors have witnessed significant wealth erosion amid heightened volatility. Market participants are closely monitoring global trends, corporate earnings, and policy developments for any signs of stabilization. The continued selloff has put pressure on key support levels, making the upcoming trading sessions crucial for market sentiment.

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Stock Market Crash