Indian Stock Market Declines: Sensex Drops Over 500 Points Amid Profit Booking
Sensex Today | Nifty 50 | Stock Market Live Updates: Sensex falls over 500 pts, Nifty below 23,900; L&T, IndiGo drop up to 2%
The Economic TimesImage: The Economic Times
On Thursday, Indian benchmark indices experienced a significant decline, with the Sensex falling over 500 points and the Nifty dropping below 23,900. This downturn is attributed to profit booking following a four-day rally, alongside concerns over rising crude oil prices and weak global cues.
- 01Sensex fell over 500 points in early trading.
- 02Nifty slipped below 23,900 amid profit booking.
- 03Weak global cues and rising crude oil prices impacted market sentiment.
- 04Adani Ports and Infosys stocks dropped by up to 2%.
- 05India Vix increased by over 1%, indicating rising market volatility.
Advertisement
In-Article Ad
On Thursday, the Indian stock market opened lower with the Sensex declining by over 500 points and the Nifty slipping below the 23,900 mark. This drop comes as profit booking occurs after a sharp four-day rally. Concerns over rising crude oil prices, which have surged above $95, and fading hopes for a ceasefire between Iran and the US have contributed to the negative sentiment. Additionally, the Indian rupee has weakened, and foreign institutional investors (FIIs) continue to sell off stocks. In early trading, Adani Ports and Infosys saw declines of up to 2%, while the Nifty IT sector emerged as the top loser on the National Stock Exchange (NSE), falling nearly 1%. Conversely, the Nifty Metal sector gained over 1%. Global markets are also reflecting negative trends, with Japan's Topix falling 4.6%, Australia's S&P/ASX 200 down 2.2%, and Hong Kong's Hang Seng declining 2.8%.
Advertisement
In-Article Ad
The decline in the stock market may affect investor sentiment and could lead to increased volatility in the coming days, impacting those with investments in affected sectors.
Advertisement
In-Article Ad
Reader Poll
Do you think the stock market will recover in the next week?
Connecting to poll...
Read the original article
Visit the source for the complete story.

