Sensex-Nifty Big Fall, Here is the update
Stock Market Highlights: The Sensex plunged by 600 points, and the Nifty also crashed: The stock market saw a sharp fall today, just one day before the Union Budget for the 2027 financial year. After rising for three straight sessions, both the Sensex and Nifty 50 slipped as investors turned cautious.
Weak global markets, nervousness ahead of the budget, and heavy selling in IT and metal stocks dragged the indices lower. The Sensex is down 0.44% at 82,200.94, while the Nifty 50 has fallen 0.48% to 25,296.20.
During the day, losses were deeper. The Sensex dropped as much as 625 points, falling from 82,566.37 to 81,941.03. The Nifty 50 also declined nearly 200 points to 25,218.95.
Only 11 Sensex stocks and 22 Nifty stocks are trading in positive territory. On the Sensex, SBI, BEL, and Axis Bank gained the most, while Tata Steel, Infosys, and HCLTech were the biggest losers.
Why did Sensex and Nifty fall? Here’s one key reason:
Profit-taking in metal stocks:
Metal stocks took a big hit today, with the Nifty Metal index falling up to 4%. These stocks had risen for three days in a row due to high metal prices. However, investors booked profits as concerns grew over a possible tough stance by the next US Federal Reserve chairman, a stronger US dollar, and metal prices being too high for comfort, according to market analyst Tim Waterer.
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