Sensex plunges over 500 points, Nifty below 25,000 amid market sell-off

The Sensex fell by 525.34 points, or 0.64%, at 80,976.02. Similarly, the Nifty dropped 222 points, or 0.89%, below the 25,000 mark at 24,749.30.

Benchmark stock market indices experienced a sharp decline today, with both the Sensex and Nifty dropping significantly.

The Sensex fell by 525.34 points, or 0.64%, at 80,976.02. Similarly, the Nifty dropped 222 points, or 0.89%, below the 25,000 mark at 24,749.30.

This decline was part of a larger market sell-off, with several key sectors seeing losses. Out of the total shares traded, about 1,023 shares advanced, while a much larger number—2,353—declined. Around 83 shares remained unchanged by the close of the trading session.

The downturn in the stock market can be attributed to multiple factors. A mix of global and domestic concerns has made investors cautious, prompting widespread selling across various sectors.

Global markets have been facing uncertainty due to ongoing geopolitical tensions and worries about potential economic slowdowns in major economies like the US and China. Inflation concerns in these markets have also led to fears of interest rate hikes, which tend to affect investor sentiment negatively.

Domestically, rising oil prices have added to inflationary pressures, sparking concerns about increased costs for businesses. Higher fuel prices tend to impact industries such as transport and manufacturing, leading to lower profit margins, which in turn affects stock prices.