Today, major large-cap indices have witnessed a notable downward trend, reflecting a broad-based selloff in the market. Leading the slide is the Nifty 50, which dropped by 1.04%, shedding 253.10 points to trade at 24,146.30. The index has been under pressure from weak global cues and concerns over rising costs affecting corporate earnings.
The Nifty Bank index has been hit harder, plunging by 1.98% or 1,021.50 points, bringing it to 50,509.65. The banking sector has faced increased volatility, as rising interest rates and concerns over liquidity have dampened investor sentiment, adding pressure on financial stocks.
Meanwhile, the Nifty Next 50 also posted a sharp fall of 2.13%, losing 1,507.80 points to trade at 69,318.45. This index, representing large-cap companies just outside the Nifty 50, has experienced higher volatility due to weaker-than-expected corporate results.
Other large-cap indices such as the Nifty 100 and Nifty 200 have not been spared either. The Nifty 100 dropped by 1.25%, losing 315.80 points to trade at 24,959.70, while the Nifty 200 index fell by 1.41%, down 193.05 points to 13,532.50.
The market downturn comes amid concerns over global inflation, rising costs, and uncertain economic conditions. As corporate earnings reports continue to be released, investors are closely watching for further signals on market direction and company performance.
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