Markets face sharp decline as Sensex and Nifty register significant losses

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Indian market indices, the Sensex and the Nifty, experienced a day of substantial losses as most of their constituent stocks closed in the red. The Sensex witnessed a steep decline, plummeting 869 points to reach an intraday low of 66,728.14 during the trading session. Similarly, the Nifty recorded a drop of 254 points, touching its intraday low at 19,878.85.

At the close of the trading day, the Sensex reported a loss of 796 points, equivalent to a decline of 1.18 percent, settling at 66,800.84. Meanwhile, the Nifty concluded below the 20,000 mark, closing at 19,901.40, down by 232 points or 1.15 percent.

Among the key components of the Sensex, HDFC Bank emerged as the leading contributor to the decline, followed closely by Reliance Industries.

While mid and small-cap stocks also experienced losses, they outperformed the benchmark Sensex. The BSE Midcap index declined by 0.33 percent, while the Smallcap index concluded 0.51 percent lower.

The overall market capitalisation of companies listed on the BSE decreased to approximately Rs. 320.7 lakh crore from Rs. 323 lakh crore in the previous session. This decline resulted in a collective loss of nearly Rs. 2.3 lakh crore for investors in a single trading session.

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