Nifty and Sensex fell amid weak global cues, extending losses for the second session. Investors worry about recession and lack of fresh triggers.
Sensex dropped 1,273.99 points to 79,707.96; Nifty fell 378.00 points to 24,339.70. 439 shares advanced, 2,362 declined, and 158 remained unchanged in the early hours of the day.
US futures deep in red; Nasdaq futures down over 2%. Nasdaq entered correction territory, off 10% from all-time highs, impacting global sentiment.
Nikkei and Topix in Japan dropped as much as 7% after BoJ raised interest rates, affecting forex strategies and global market stability.
Middle East tensions surge with Iran, Hamas, and Hezbollah vowing retaliation. Potential escalation could impact oil prices and global markets.
Weak Q1 earnings growth of around 2% year-on-year due to poor deal environment, record heatwave, and lackluster demand, dragging market sentiment.
Post-earnings season, Budget, and Fed cues, markets lack new triggers to drive momentum. Nifty Auto, Realty, and Metal sectors hit hardest.