Sensex down 583 points, Nifty slips below 24,000 as rupee hits record low
Sensex down 583 points, Nifty slips below 24,000 as rupee hits record low
Indian shares slip as oil prices surge and the rupee hits a record low, pulling Sensex and Nifty lower before some late-session recovery.
Indian stock benchmarks tumbled on Thursday, with the Sensex and Nifty both sliding around 0.7% in the session as crude oil surged to fresh highs and the rupee slipped to a record low. By the close, the Sensex stood 583 points lower at 76,913, while the Nifty was down about 180 points to 23,998, underscoring a risk-off tone that hit investor sentiment across the board.
The move was broad-based, dragging down both index heavyweights and smaller names. On the Sensex, Eternal (the Zomato parent), Hindustan Unilever, Tata Steel, UltraTech Cement, M&M, Trent, L&T and Axis Bank emerged as the top losers, each slipping roughly 2%–3%. In contrast, Sun Pharma bucked the trend, rising around 2% to emerge as the day’s top gainer. The Nifty Smallcap 100 and Midcap 100 indices also softened, while the Nifty Pharma and Nifty IT closed in the green.
Market breadth remained weak: about 1,976 stocks declined on the NSE, while 1,295 advanced and 98 remained unchanged. The volatility gauge India VIX rose about 6% to the 18.46 area, signaling heightened nerves among traders. Sectorally, Nifty Metal and Nifty PSU Bank fell around 2% each as the worst performers, while pharma and IT held steadier on the day. The broad selloff erased close to Rs 5 lakh crore in market capitalisation, bringing total market value to around Rs 464 lakh crore, a reminder of how quickly sentiment can shift on global cues and domestic data.
Investors and analysts will be watching oil prices, the rupee trajectory, and any shifts in domestic policy or macro data in the coming sessions. If volatility persists, traded volumes could remain elevated, offering opportunities in selective pockets even as the overall mood stays cautious.
