Stock Market Update: Sensex Drops 1000 points, Nifty 300; Read more for the Reasons
The Stock Market has been witnessing a sudden drop today as benchmark indices have crashed sharply within the day. A massive selloff in all sectors and early morning gains follow up for a sudden dip, analysts point at risk aversion due to the Pahalgam terror attack.
In the midst of a diplomatic turbulence, the stock indices broke a seven- session winning streak as the deadly attack on civilians, triggering a diplomatic crisis. The neighboring countries are under serious tug of war as India in retribution to the barbaric act decided to revoke an important water- sharing agreement, the Indus Water Treaty after both the countries disallowed visas of their significant counterpart’s nationals.
A massive selloff in several sectors resulted in a market dip of 1000 in a day with broader indices facing much lower losses. At the time of this report, nsex”>sensex was trading at 79,028.29 points, went down by 773.14 points or 0.97 per cent, while Nifty was at 23,970.60 points, dropping down by 276.10 points or 1.14 per cent. Notably, Sensex’s intraday low was 78,605 points.
Apart from the two days, stock market experts predicted that the positive bias over Indian Equities was likely due to the return of foreign institutional investments. Trump’s announcement of reciprocal tariffs has resulted in spikes in the Indian Stock Indices for 90 days, after facing a selloff in equities like any other country initially.
“The potential headwind looming large on the horizon is the uncertainty regarding India’s response to the terror attack and its consequences,” said VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, as reported by ANI.
