Indian Stock Market Faces Sharp Decline Amid Multiple Factors

Indian Stock Market Faces Sharp Decline Amid Multiple Factors

VoM News Desk | January 23, 2024 | 03:28 PM IST | Breaking News | Follow on Google News

Indian Stock Market Faces Sharp Decline Amid Multiple Factors/PTI

Indian Stock Market Faces Sharp Decline Amid Multiple Factors

The Indian stock market witnessed a significant downturn as the Sensex and Nifty 50 indices plummeted by 1.5%, dragged down by extensive selling in financial giants, particularly HDFC Bank.

The BSE Sensex fell almost 1,700 points from its peak above 72,000, and the Nifty 50 dropped over 500 points from its intraday high above 21,700.

Broader markets also suffered, with Nifty Midcap 100 and Nifty Smallcap 100 indices plunging over 3%.

Geopolitical concerns, bank stocks sell-off, fall in index heavyweights, sustained FII selling, and technical factors contributed to the market turmoil.

VoM News Desk

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