Tata Motors' share price fell by 6.21%, Tata Steel by 4.89%, and JSW Steel by 4%. Nifty500 dropped 3.33%, dragged down by Phoenix Mills, Motherson International, and Kalyan Jewelers, as of 11:20 AM.
US job growth in July slowed more than expected, intensifying recession fears and affecting global stock markets.
Geopolitical tensions rose as concerns grew over potential attacks from Iran and its allies. This further weighed on market sentiment.
India's market cap to GDP ratio hit a record high of 150%, raising concerns about market overvaluation and potential corrections.
Nifty succumbed to corrective pressure, remaining vulnerable to profit-taking after scaling the 25,000-level last week.