Rs 8 lakh crore selloff! Sensex plunges 1,400 points from day’s peak as bulls lose steam; 3 triggers

Synopsis

On Wednesday, the Indian stock market saw a significant decline after an initial rise in the morning. Sensex and Nifty both climbed nearly 1% early on, reaching highs of 74,682 and 23,121 respectively. However, the market reversed course in the afternoon session, with selling pressure mounting. By the end of the day, Sensex dropped around 1,400 points from day's high, while Nifty fell below the 22,700 level.

The Indian stock market erased all gains and plunged into the deep red on Wednesday, with Sensex and Nifty falling nearly 2% from their respective day’s highs as multiple headwinds weighed.

After opening, Sensex and Nifty bulls pushed the market sharply higher, with the benchmark indices rising nearly 1% each to hit 74,682 and 23,121 respectively. However, the bears took over in the afternoon, with Sensex plunging around 1,400 points from its day’s high to 73,258 and Nifty erasing over 450 points to trade below the 22,700 level.