The buzz on Mumbai’s trading floors turned to panic Thursday as stocks staged a steep retreat. Sensex shed 1,236.11 points (1.48%) to close at 82,498.14; Nifty lost 365 points (1.41%) at 25,454.35. NSE’s sectoral board was a sea of red at the bell.
Flat-to-positive opening couldn’t withstand the onslaught from banking, metals, autos, and FMCG sell-offs. Three days of gains evaporated, benchmarks reversing sharply into loss territory.
Session lows: Sensex at 82,264.20 (-1,400+ pts), Nifty under 25,400 (-400+ pts). Escalating crude oil, US-Iran strains, and booking profits in heavyweights drove the mayhem.
All 30 Sensex stocks fell; standout decliners IndiGo, M&M, UltraTech Cement, Trent, BEL, Kotak Bank, Reliance, Tech Mahindra, ITC (max 3.2%). Broader indices: Midcap 100 -1.59%, Smallcap 100 -1.27%.
Sectors in freefall: Realty/media/auto -2%; FMCG/private & PSU banks >1%. Market capitalization on BSE cratered by 53 lakh crore to 466 lakh crore, hammering investor sentiment.
FPIs offloaded 10,956 crore IT holdings in early February, against 29,709 crore net buys. As global risks loom, this downturn spotlights the market’s fragility, setting the stage for cautious trading ahead.