Market Sell-Off: Sensex Drops 800 Points From Day’s High, Nifty Slips Below 24,500

Indian markets witnessed a sharp decline on Tuesday after four straight sessions of gains. The Sensex fell nearly 800 points from its intraday high, while the Nifty slipped towards 24,450. Key reasons behind the fall: 1. Profit Booking: Investors booked gains after the market’s four-day rally, triggering a sharp intraday reversal. 2. Broad-Based Selling: Almost all sectors traded in the red, with Private Banks, Realty, IT, Financial Services and Oil & Gas among the major losers. 3. Banking Stocks Under Pressure: The Nifty Private Bank index fell around 1.5%, weighing on the broader market. 4. Closing Auction Concerns: Investors remained cautious as the market assesses the impact of the newly introduced Closing Auction Session (CAS) on price discovery. 5. Expiry-Driven Volatility: Weekly derivatives expiry added to uncertainty, prompting traders to remain cautious amid sharp intraday swings.