In a dramatic reversal, Indian equities surrendered recent gains on Thursday, closing sharply lower amid global headwinds. The benchmark Sensex cratered by 1,236 points (1.48%) to 82,498.14, while Nifty tumbled 365 points (1.41%) to 25,454.35. All sectoral indices on the NSE ended in the red, painting a grim picture for traders.
Markets opened marginally higher but quickly unraveled as selling pressure mounted in key sectors like banking, metals, autos, and consumer goods. The momentum shift ended a three-session uptrend, with benchmarks plunging after initial promise.
Intraday lows were stark: Sensex hit 82,264.20 (down over 1,400 points), and Nifty slipped below 25,400 (down 400+ points). Rising crude prices and heightened US-Iran friction fueled the rout, compounded by profit-taking in blue-chip names.
No Sensex stock escaped the bloodbath—all 30 declined, led by sharp falls in IndiGo, M&M, UltraTech Cement, Trent, BEL, Kotak Bank, Reliance, Tech Mahindra, and ITC (up to 3.2%). Midcaps and smallcaps mirrored the pain, with Nifty Midcap 100 down 1.59% and Smallcap 100 off 1.27%.
Realty, media, and auto sectors led losses at 2% each, followed by FMCG and banking indices over 1%. Investors watched helplessly as 53 lakh crore in market value evaporated, leaving BSE’s market cap at 466 lakh crore.
FPIs dumped 10,956 crore in IT stocks during early February, even as overall inflows reached 29,709 crore. The session underscores vulnerabilities to global cues, leaving markets bracing for more turbulence.