Sharp sell-off across D-Street: Sensex plunges 876 points, Nifty breaks 22,900
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓The Sensex plunged 876 points and Nifty fell 257 points to close below 22,900.
- ✓Weak global cues and poor quarterly results for private banks triggered this sell-off.
- ✓Vinod Nair said, “Indian equities came under renewed selling pressure, reversing the recent recovery as weak global cues and selling in private banks weighed.”
Story at a Glance
- Category
- MARKET
- Reported By
- Financial Express
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
The Sensex plunged 876 points, while the Nifty fell 257 points to close below 22,900.
Weak global cues and concerns over quarterly earnings kept investors on the sidelines, while losses in heavyweight banking stocks added to the pressure.
Let’s take a look at the key factors that shaped today’s trading session –
Private Banks took the biggest hit
Private banks were among the biggest drags after their September-quarter results raised concerns over margins and future earnings. Axis Bank, HDFC Bank and YES Bank fell by up to 5%. The selling pulled the Nifty Private Bank index down nearly 2% and the Nifty Bank index lower by around 1%.
IT stocks also weighed on the benchmarks. Most sectoral indices ended in the red, with financials, FMCG and IT among the key laggards. The weakness spread to broader markets, with both midcap and smallcap indices losing more than 1%.
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Financial Express
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