Overview

• The Sensex plunged over 1,000 points, closing at 79,118, while Nifty fell 207 points to settle at 24,039, reflecting heightened investor caution.
• Geopolitical tensions surged after the Pahalgam terror attack, killing 26 civilians, and ceasefire violations along the Line of Control, prompting diplomatic withdrawals by both nations.
• Midcap and Smallcap indices saw sharp declines of around 3% and 3.5%, while market volatility spiked with the India VIX rising 5.58%.
• Banking stocks, including Axis Bank, led the losses, with Axis Bank shares dropping over 4% due to disappointing quarterly results.
• Selective IT stocks like TCS, Infosys, and Tech Mahindra managed to post gains, bucking the broader market selloff.