Broad market sell‑off sees Sensex and Nifty close sharply lower

All major Indian equity indices retreated sharply on Thursday, culminating in a broad‑based sell‑off that saw the Sensex and Nifty close well below previous levels.

The Nifty 50 fell 371.25 points, a 1.64% decline, to settle at 22,231.80 after touching a 52‑week low of 22,179.90. The Sensex mirrored the trend, dropping 1,045.46 points, equivalent to 1.44%, and closing at 71,593.24.

Every sector index ended the session in the red. Nifty Metal posted the steepest fall at 3.55%, followed closely by Nifty Realty at 3.16% and Nifty Energy at 2.82%. Other sectors—including commodities, media, defence, manufacturing, oil & gas, autos, PSE, healthcare and pharma—each registered losses between 2.3% and 2.8%.

The downturn extended to the mid‑cap and small‑cap segments. The Nifty Midcap 100 slipped 2.53% to 57,882.50, while the Nifty Smallcap 100 fell 2.34% to 19,050.10.

Key decliners in the Sensex pack were familiar large‑cap names: ITC, Indigo, Power Grid, BHEL, NTPC, Maruti Suzuki, Tata Steel, UltraTech Cement, L&T, Bharti Airtel, Asian Paints, Bajaj Finserv, Sun Pharma, HDFC Bank, Eternal and HUL. Only a handful of stocks—Tech Mahindra, Axis Bank and Infosys—posted gains.

Analysts linked the market weakness to three dominant factors: crude oil prices near $103 a barrel, a weakening rupee around 97 per dollar, and persistent foreign institutional investor selling pressure. The metal and realty sectors endured the heaviest sell‑offs.

Nevertheless, a few stocks managed to climb. Senko Gold rallied as much as 11.9% before the broader market sentiment dampened the move, and PNGS REVA Diamond Jewellery continued its upward trajectory for a fourth consecutive day after reporting strong quarterly results.