Stock Market Highlights: Dalal Street ended sharply lower, with the Nifty down 360 points at 22,780 and the Sensex falling 1,124 points to 72,772. The Nifty Bank slipped 1,109 points, while 47 of 50 Nifty stocks closed in the red.
All four frontline indices slipped nearly 2%, with the Nifty Bank emerging as the biggest underperformer. The broader market also remained under pressure, with the Midcap index falling 992 points to 59,914.
The sell-off was broad-based, with 47 of the 50 Nifty stocks closing in the red. All sectoral indices ended lower, while the Volatility Index jumped 13%. PSU banks saw a sharp decline, with the Nifty PSU Bank falling over 3%.
Rising crude continued to weigh on sentiment, with seven Nifty stocks hitting their 52-week lows. BSE-listed companies also saw ₹8 lakh crore wiped out from their combined market capitalisation during the session.
Among the few gainers, DRL, Infosys and HDFC Life closed in the green. Gold financiers declined in line with gold prices, with Manappuram Finance slipping 6%. Air-conditioner companies rose on expectations of a price hike, with Voltas gaining 2%.
NSE and BSE also declined amid reports that SEBI is considering forming a panel on self-listing.
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