Indian stock market plunges over 700 points; cautious investors trigger sell-off; IT and banking sectors heavily impacted
Total 118 words · 1 min read
- Indian stock market experiences significant downturn: On January 3, the Sensex fell by over 700 points and the Nifty 50 dropped by 200 points due to profit booking, cautious investor sentiment, and a strengthening US dollar, impacting sectors like banking and IT. This decline was influenced by expectations of volatility ahead of upcoming policy decisions and Q3 earnings reports .
- Market slides as investors remain cautious: Following a strong start to the New Year, the Indian stock market saw a halt in its upward trend on January 2, with the Sensex closing at 79,223.11, down by 720.60 points, and the Nifty at 24,004.75, down by 183.90 points. Heavy selling was observed in IT, financial services, and pharma sectors, while some buying occurred in PSU Bank and FMCG sectors .
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