Stock market: How Sensex and Nifty settled in the previous session
Stock market extended its losing streak in the previous session, with Sensex and Nifty closing lower for the third consecutive session. The slump came as surging crude oil prices and heavy selling in banking stocks dampened investor sentiment.
BSE Sensex dropped 715.06 points, or 0.92%, to settle at 76,755.05 after falling as much as 828.92 points during the session. NSE Nifty declined 191.45 points, or 0.79%, to end below the 24,000 mark at 23,996.25.
The sell-off was broad-based, with mid-cap and small-cap indices also ending over 1% lower. Banking heavyweights including ICICI Bank, Axis Bank and State Bank of India were among the biggest drags, while sectors such as realty, PSU banks and IT witnessed sharp declines.
FMCG emerged as the only sectoral gainer, reflecting a shift towards defensive stocks. Market sentiment remained under pressure as rising crude oil prices, geopolitical tensions in the Middle East and concerns over global trade kept investors firmly in risk-off mode, even as the earnings season gathered pace.