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.
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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.