Sensex Falls 300 Points to 72,700, Hits 9-Month Low

Mumbai : The Indian stock market witnessed a sharp decline as the Sensex dropped 300 points to settle at 72,700, marking its lowest level in the past nine months. The market downturn was driven by heavy selling pressure in IT and real estate stocks, which saw a significant drop amid weak global cues and cautious investor sentiment. The Nifty index also followed the downward trend, slipping below the 22,000 mark.

IT stocks were among the biggest losers of the session, with major companies like TCS, Infosys, and Wipro witnessing a decline. Realty stocks also faced heavy selling as concerns over high interest rates and slowing demand weighed on the sector. Banking stocks showed mixed performance, with some resilience in select private sector banks, but overall market sentiment remained bearish.

The decline in the Indian stock market comes amid weak global cues, with investors reacting to concerns over geopolitical tensions, economic slowdowns, and inflationary pressures in major economies. The US Federal Reserve’s stance on interest rates has also contributed to uncertainty in global markets, affecting investor confidence. Foreign institutional investors (FIIs) have been net sellers in the Indian equity market, further adding to the negative sentiment.

Market analysts believe that the correction in the Sensex is largely due to profit booking and global economic concerns. Experts suggest that if selling pressure continues, the market could see further downside in the coming sessions. However, some analysts believe that long-term investors may find this dip a good opportunity to accumulate quality stocks at lower levels.

Despite the ongoing correction, some sectors such as FMCG and pharmaceuticals showed resilience, with select stocks registering gains. Investors are now closely watching key economic data releases, corporate earnings, and policy announcements that could influence market direction in the coming days.

The upcoming sessions will be crucial in determining whether the Sensex can find support at current levels or if further downside is expected. Investors are advised to remain cautious and adopt a selective approach while making investment decisions in the current volatile market environment.