Dalal Street Witnesses Sharp Selloff: Sensex Cracks 700+ Points, Nifty Slides Below 23,700 as Bears Tighten Grip

Indian equity markets traded sharply lower on Friday as broad-based selling across sectors kept benchmark indices under pressure. Weak sentiment in IT, auto, metal, and realty stocks, along with profit booking and cautious global cues, weighed on the markets. At 11:20 AM, the BSE Sensex was down 720.30 points (0.94%) at 75,671.09, while the NSE Nifty 50 declined 204.75 points (0.86%) to 23,664.85, slipping below the key 23,700 level. The selloff was widespread, with market breadth remaining weak as 967 stocks advanced against 2,536 declines on the NSE. The weakness extended to the broader market, with both mid-cap and small-cap indices trading in the red. Meanwhile, the India VIX, the market's volatility gauge, surged 6.60%, reflecting rising uncertainty and increased caution among investors. Going ahead, investors will closely watch global market trends, institutional flows, and corporate earnings for further direction. With volatility on the rise and selling pressure across sectors, the market is likely to remain cautious in the near term. With volatility on the rise and selling pressure intensifying across sectors, Dalal Street remains in a cautious mode as investors await fresh catalysts to determine the market's next move.