Indian Stock Markets Plunge as Sensex Drops Over 1,000 Points
Weak earnings, global economic pressures, and foreign investor outflows contribute to widespread market losses across sectors.
- The BSE Sensex fell by over 1,000 points, and the NSE Nifty dropped more than 300 points during Friday's trading session, marking significant declines.
- Mid and small-cap stocks were among the hardest hit, with companies like Patanjali Foods, Tata Technologies, and Mphasis experiencing steep losses.
- Key factors driving the crash include weak earnings reports from Indian banks, rising U.S. bond yields, and foreign institutional investors shifting to other markets like China.
- Sectoral indices such as IT, telecom, auto, and metal saw notable declines, with the Nifty Midsmall IT & Telecom Index dropping by 3.7%.
- The market downturn follows a period of correction, with analysts citing uncertainty from U.S. tariff policies and a strengthening dollar as additional pressures.