Sensex plummeted by over 2,600 points

Stock market crashed by Rs 17 lakh crore to Rs 440.16 lakh crore

Indian stock market faces a challenging period

The Indian stock market faced severe turbulence as the Sensex plummeted by over 2,600 points, marking a dramatic decline driven by multiple factors. The slump was triggered by growing concerns about a potential recession in the United States, which led investors to retreat from risk assets.

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The Sensex, reflecting the overall market sentiment, saw a steep drop, while the Nifty fell below the critical 24,000 mark, largely due to heavy selling in major stocks. Blue-chip companies such as Tata Motors and Tata Steel were among the hardest hit. The market capitalization of all listed companies on the Bombay Stock Exchange (BSE) witnessed a significant reduction, shrinking by Rs 17 lakh crore to Rs 440.16 lakh crore.

Additional factors contributing to the market’s decline included the unwinding of yen carry trades, escalating geopolitical tensions, concerns over stock overvaluation, and disappointing first-quarter results from key companies. The India VIX, a gauge of market volatility, surged to its highest level since 2015, reflecting heightened investor anxiety.

As global and domestic uncertainties mount, the Indian stock market faces a challenging period, with investors closely monitoring evolving economic indicators and geopolitical developments.