Sensex Today | Stock Market Highlights: Sensex sheds over 700 points, Nifty ends below 24K as sell-off deepens

Sensex Today | Stock Market Highlights: It was a bruising session for Dalal Street as selling pressure intensified across the board, dragging benchmark indices sharply lower and leaving investors nursing widespread losses. The broader 50-share NSE Nifty failed to hold the crucial 24,000 mark, while the benchmark 30-share BSE Sensex tumbled 715 points to close at 76,755. The Nifty shed 191 points to end at 23,996, reflecting the risk-off mood that dominated trade.

The pain was widespread. Nearly 40 Nifty stocks ended in the red, with heavyweights continuing to weigh on sentiment. Reliance Industries, HDFC Bank and IT majors remained major drags, while the Bank Nifty slumped 709 points to 57,127. The broader market wasn’t spared either, with the Midcap Index plunging 687 points.

IndiGo emerged as the biggest Nifty loser amid concerns over rising crude prices and intensifying competition. Pharma stocks also came under pressure after US President Donald Trump’s comments on tariffs for generic drugs, sending Lupin and Aurobindo Pharma sharply lower.

Earnings reactions added to the volatility. Bandhan Bank sank 17% after cutting its RoA guidance, while Oracle Financial Services slid 7% ahead of results. Adani Green, Adani Power, BPCL and SRF also faced selling pressure despite earnings-related triggers.

There were a few bright spots. TVS Motor and Bajaj Auto rallied on strong quarterly performance and upbeat commentary, while Nestle gained 3% after an all-round earnings beat.

The extent of the damage was evident in market breadth, with decliners overwhelmingly outnumbering advancers in a steep 2:5 ratio — a clear sign that today’s sell-off was broad, deep and painful.

Most Asian markets traded lower by 3:30 pm IST on Wednesday, with China’s Shenzhen Composite leading the declines, down 1.10%, followed by the Philippines’ PSEi, which fell 1.04%. Hong Kong’s Hang Seng lost 0.95%, while Thailand’s SET and Malaysia’s Kuala Lumpur Composite declined 0.82% and 0.52%, respectively.

Japan’s Nikkei 225 slipped 0.18%, while Indonesia’s Jakarta Composite edged down 0.09%. Sri Lanka’s Colombo ASPI was the lone gainer among the indices shown, rising 0.02%.

However European markets opened higher on Wednesday, with the Stoxx 50 edging up.

Watch this space for all the Highlights.