Overview
- Benchmarks fell sharply on Monday, with the Sensex closing down 609.68 points at 85,102.69 and the Nifty at 25,960.55, erasing roughly Rs 7.1–7.6 lakh crore in BSE market value.
- Selling resumed on Tuesday as the Sensex dropped more than 600–700 points intraday toward 84,400 and the Nifty slipped below 25,800, led by weakness in banking, IT and metal shares.
- Foreign investors remained net sellers to the tune of Rs 655.59 crore on Monday, while domestic institutions bought about Rs 2,542.49 crore, offering partial support.
- Market breadth deteriorated further with mid- and small-cap indices falling more than large caps, and analysts highlighted stretched valuations and risk-off positioning.
- The rupee hovered around 90.06 against the dollar and traders cited global uncertainty tied to the Fed outcome, higher global yields, heavy IPO supply and reports of possible new US tariffs on Indian rice as pressure points.