Stock Market Updates: Sensex Tanks 700 Points, Nifty Drops Below 24,800; ITC Down 4% – News18

Sensex Today: Indian benchmarks Sensex and Nifty50 opened lower, reflecting a sharp decline in Asian markets.

BSE Sensex opened nearly 700 points lower at 81,158.99 levels while Nifty50 plunged 220 points to 24,789.

ITC, HUL were the top gainers while Maruti, Tata Motors were the top laggards on BSE.

Similarly, on NSE, Apollo Hospitals and Nestle were the only gainers while JSW Steel, Tata Steel were the top laggards.

Broader markets fell. Nifty SmallCap and MidCap were down 1 per cent each.

Sectorally, Nifty Auto and Metal plunged nearly 2 per cent.

Global Cues

In the US, markets experienced a sell-off amid rising recession fears, with the Dow Jones falling 1.21 per cent, the S&P 500 decreasing 1.37 per cent, and the Nasdaq sliding 2.3 per cent. Further, reports suggest that concerns are growing over whether the Federal Reserve is too late in adjusting its monetary policy.

Asian markets mirrored Wall Street’s losses, with the Nikkei plummeting over 5 per cent, the Kospi dropping 2.5 per cent, and the ASX 200 falling 1.83 per cent.