The stock market experienced a significant downturn today, with the BSE Sensex and Nifty50, the primary equity indices in India, suffering substantial losses during trading on Friday. The BSE Sensex fell below the 73,600 mark, while the Nifty50 dropped below 22,250. At 10:01 AM, the BSE Sensex was recorded at 73,597.70, reflecting a decrease of 1,015 points or 1.36%. Meanwhile, the Nifty50 stood at 22,227.90, down by 317 points or 1.41%.
The declines in the Sensex and Nifty were primarily driven by notable losses in the banking and IT sectors. Investor sentiment remained cautious in anticipation of important GDP data and in reaction to recent comments made by US President Donald Trump concerning tariffs.
The overall market capitalization of companies listed on the BSE decreased by Rs 5.8 lakh crore, bringing the total to Rs 387.3 lakh crore, as reported by ET. In the initial trading session, Nifty IT stocks experienced a drop of up to 4%, impacted by the previous night's decline in US markets due to Nvidia's disappointing results. Furthermore, the Nifty Auto index fell by more than 2%, while the Nifty Bank, Metal, Pharma, Consumer Durables, and Oil & Gas indices recorded declines ranging from 1% to 2%.
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