The Indian equity market is experiencing a major selloff today as both the Sensex and Nifty indices witness significant declines. The Sensex is trading over 1,150 points, or 1.48%, lower at 76,236.05, while the Nifty 50 index is down by 350 points, or 1.48%, currently at 23,043.60. The market is under heavy selling pressure across sectors, with small-cap and mid-cap stocks leading the downturn, falling over 4% each.
The trading session opened on a weak note, with the Sensex beginning at 77,384.98 and the Nifty at 23,383.55. As the session progressed, losses accelerated due to investor concerns over global macroeconomic risks and domestic earnings season uncertainty. The Nifty Bank index is also in the red, trading 1.29% lower at 49,334.95 after opening at 49,812.15.
Broader indices are reflecting widespread selloffs as the Nifty Next 50 plunges 2.62% and the Nifty 500 drops 2.17%. The Nifty IT index is down by 1.48%, trading at 41,966.45, indicating pressure on major tech firms. The Nifty Midcap 50 and Nifty Midcap 100 have declined by 3.33% and 3.37%, respectively, while the Nifty Smallcap 100 is down by 3.72%.
Volatility in the market remains elevated, with the India VIX index surging by 4.75%, signaling heightened uncertainty. Key stocks in action include Reliance Industries, RVNL, Nykaa, Lupin, ONGC, Grasim, Bata, and Apollo Hospitals, which are contributing to the ongoing selloff.
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