Sensex crashes over 1,150 points, Nifty drops 350 amid market sell-off

The Indian stock market faced a significant crash during Thursday's afternoon trading session, as both Sensex and Nifty recorded sharp declines. This unexpected downturn raised concerns among investors, particularly in technology and auto stocks, which saw substantial losses.

As of 2:50 PM IST, the BSE Sensex plunged by 1,163.92 points, a 1.45% decrease, settling at 79,070.16. Similarly, the NSE Nifty fell 356.55 points or 1.47%, dropping to 23,918.35. Market analysts attributed this sharp drop to global economic uncertainties and a weak performance in domestic heavyweights.

Among the Sensex 30 companies, Infosys Ltd led the losses with a 3.49% drop, ending at Rs.1,857. Mahindra & Mahindra Ltd followed with a 3.18% fall, while Bajaj Finance Ltd, HCL Technologies Ltd, and Titan Company Ltd each lost over 2.5%. Infosys’ underperformance significantly impacted the Nifty IT index, which suffered a 2.33% decline, closing at 42,992.80.

Sectorally, the downturn was widespread. Nifty IT led the declines, followed by Nifty Auto, which fell by 1.49% to 23,167.90. Nifty Private Bank and Nifty Consumer Durables also faced losses, dropping by 1.11% each to 25,233.45 and 39,796.65, respectively. This cross-sector sell-off signaled cautious investor sentiment amid broader economic concerns.

Investors also noted the pressure on global markets, which contributed to the sell-off. Rising crude oil prices, geopolitical tensions, and concerns over central bank policies have further dampened the market's outlook, prompting heavy profit booking.

Market experts suggest that short-term volatility may continue as the year-end approaches, with investors closely monitoring global cues and domestic earnings reports. The fall marks one of the steepest declines in recent months, sparking a cautious tone among traders.