World · India Bureau
Indian Markets Plunge as Key Support Levels Breach
Benchmark indices slumped sharply on Thursday, with investor wealth declining by approximately ₹10 lakh crore in intraday trading. The Sensex fell below the 72,000 mark while the Nifty broke through its critical 22,200 support level.
LSN India ·
India's stock market experienced significant losses on Thursday as major indices breached key technical support levels, triggering widespread selling pressure across equities.
The Sensex retreated below 72,000, while the Nifty 50 index pierced through its 22,200 support benchmark, signaling a shift in market momentum. The decline resulted in substantial erosion of investor wealth, with approximately ₹10 lakh crore wiped out in market capitalisation during intraday trading.
The sharp correction reflects growing concerns among market participants about valuations and broader economic headwinds. The breach of these critical technical levels had been anticipated by analysts, who warned that support zones would be tested if market sentiment continued to deteriorate.
The selloff underscores heightened volatility in the domestic equities market, as investors reassess their portfolios amid prevailing uncertainties. Market watchers will be closely monitoring whether these support levels hold or if further downside pressure emerges in subsequent sessions.
The movement comes amid broader global market uncertainties and domestic macroeconomic considerations that have weighed on investor sentiment in recent weeks.