Devastating Stock Market Crash: BSE Sensex Plummets Over 1,100 Points, Nifty50 Dives Below 23,100
Stock market indices Sensex and Nifty continue to slide due to persistent foreign fund outflows. On Tuesday, the Indian equity benchmarks recorded their fifth consecutive day of losses. The BSE Sensex plunged over 1,100 points, trading at 76,177.65, down 1.47%, while the Nifty50 dropped to 23,061.25, losing 1.37%. Private banking and auto stocks led the declines amid unfavorable global market outcomes. Broader markets faced sharper declines, with the Nifty Midcap 100 and Smallcap 100 indices falling over 3% and 4% respectively.
The market capitalization of firms listed on the BSE decreased by Rs 9.68 lakh crore. This downturn is partly attributed to increasing US trade policy uncertainties and ongoing foreign investor selloffs—further aggravated by the Indian rupee reaching an all-time low against the dollar. The US President’s announcement of a 25% tariff on steel and aluminum imports heightened trade war fears. Key stocks such as Power Grid and Tata Motors saw declines, whereas Infosys and Maruti posted gains.
Sector-wise, indices including Nifty Auto and Pharma registered declines up to 1.5%. Notably, Nykaa’s shares rose by 3% following a profitable quarterly report. Large-cap companies have outperformed despite market conditions, according to V K Vijayakumar from Geojit Financial Services, who observed that foreign investors are waiting for a weaker dollar index before reversing their sell-off trend.
The Nifty faces critical resistance and support levels, indicating potential further declines if it breaches key support thresholds. Concurrently, Asian markets showed weakness, whereas US stocks saw modest gains led by the energy and technology sectors. As the market digests new tariffs and anticipates future Federal Reserve policy hints, economic players remain on high alert, especially with oil prices maintaining stability amidst these developments.
Original Source: https://timesofindia.indiatimes.com/business/india-business/stock-market-today-bse-sensex-nifty50-february-11-2025-dalal-street-indian-equities-global-markets/articleshow/118132393.cms
Category :
Tags:
Publish Date: 2025-02-11 13:49:00
