India’s benchmark indices, Sensex and Nifty, continued their downward spiral on Wednesday, extending their losing streak to six consecutive sessions. Both indices tumbled nearly 1% each, hitting fresh intraday lows and deepening investor concerns.
At 10:05 AM, the Sensex had plummeted by over 860 points, settling at 75,430.23, while the Nifty slipped 260 points to 22,814.50.
Market-Wide Decline: Realty, Media Hit Hardest
Almost every sector felt the heat, with the Nifty IT index being the sole exception, posting a modest 0.28% gain. The hardest-hit sectors were:
- Nifty Realty (-2.62%)
- Nifty Media (-2.53%)
- Nifty Smallcap 250 (-3%)
- Nifty Microcap 250 (-2.92%)
Biggest Losers: Mahindra & Mahindra, Reliance, Adani Ports
Major stocks suffered steep losses, including:
- Sensex Losers: Mahindra & Mahindra, Zomato, Reliance, Adani Ports, IndusInd Bank
- Nifty Losers: Reliance Industries, Bharat Electronics Ltd, Axis Bank, BPCL
In a stark reflection of the market’s bearish sentiment, a record 433 Nifty stocks and 556 Sensex stocks hit their 52-week low levels.
Massive Selloff: Sensex Drops 3,200 Points in 6 Days
Since the start of this extended downturn, Sensex has shed nearly 3,200 points, while Nifty is nearing a 1,000-point loss. Analysts are closely watching the trend, as investors brace for further volatility in the coming days.
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