Market Update

The Indian stock market witnessed a sharp selloff in morning trade on Friday, 24 July, with the benchmarks, the Sensex and the Nifty 50, falling over 1% each. The 30-share pack crashed over 900 points, or more than 1%, to hit an intraday low of 75,474, while the NSE counterpart Nifty 50 shed over 260 points, or over 1%, to touch the day's low of 23,606. The selloff was broad-based, with the Nifty Midcap 100 and Nifty Smallcap 100 indices declining up to 1.5% during the session. Investors lost about ₹6 lakh crore as the overall market capitalisation of BSE-listed firms dropped to ₹471 lakh crore from nearly ₹477 lakh crore in the previous session.