Stock Market Today: Sensex Crashes Over 1400 Points, Nifty Below 23,000

The BSE Sensex fell 1,431.57 points, or 1.89 per cent, reaching 75,641.87. The NSE Nifty declined 367.9 points or 1.60 per cent at 22,976.85. 

By : ABP News Bureau | Updated at : 21 Jan 2025 03:33 PM (IST)

This marked the first time since June 7, 2024, that the Nifty fell below 23,000
Source : ABPLIVE AI

Indian benchmark indices Sensex and Nifty crashed over 1 per cent on Tuesday, as investor sentiment was dampened by a mix of global and domestic factors. The BSE Sensex fell 1,431.57 points, or 1.89 per cent, reaching 75,641.87. The NSE Nifty declined 367.9 points or 1.60 per cent at 22,976.85. 

This marked the first time since June 7, 2024, that the Nifty fell below 23,000. Volatility in global markets, combined with mixed earnings results, contributed to the negative sentiment, with the India VIX surging over 5 per cent during the session.

One of the reasons for this crash is expected to be US President Donald Trump’s comments aimed at BRICS countries sent shockwaves through markets. On Monday, he reiterated his plan to impose 100 per cent tariffs on nations reducing their dependence on the US dollar for global trade. Speaking from the Oval Office, he warned, "As a BRICS nation... they’ll face a 100% tariff if they think about continuing their de-dollarization efforts.”

Mixed corporate earnings further fueled market anxiety among the investors. Dixon Technologies saw a sharp 14 per cent drop in its shares after reporting a sequential decline in consolidated net profit and revenue for the December quarter. Similarly, Zomato fell 9 per cent, as its Q3 results revealed that Blinkit’s aggressive expansion was impacting profitability.

In the realty sector, Oberoi Realty slid 7.6 per cent after posting results that fell short of market expectations. The underwhelming earnings raised concerns about growth in key sectors, further undermining investor confidence.

Anand James, Chief Market Strategist at Geojit Financial Services, observed that while the 23,140 level held up as expected despite early negativity, the upward moves lacked sufficient momentum to break the 23,370/90 resistance.

He noted, "It remains the level to beat, as has been the case last week too, but favoured view sees the 23550- 640 objectives continuing to be in play. However, for momentum to persist, it would be critical to float above 23330 early in the day. Else, expect slippages to 23268/48, allowing another opportunity for bulls to regroup.”

Published at : 21 Jan 2025 03:08 PM (IST)
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Sensex BSE Stock Market Today NSE Stock Market Crash BSE.

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