On Tuesday, January 21, Indian stock markets witnessed a sharp crash after giving up their morning gains, with both the BSE Sensex and NSE Nifty experiencing significant losses. The Sensex dropped by 849 points, hitting an intraday low of 76,225, while the Nifty tumbled by 217 points to reach a low of 23,128.
The market's decline was driven by heavy selling in large-cap stocks. Zomato, Adani Ports, Reliance Industries, State Bank of India (SBI), Bajaj Finance, ICICI Bank, Tata Steel, and Bharti Airtel emerged as the top Sensex losers, with some stocks seeing losses of up to 11%.
In the broader markets, both the Nifty MidCap and SmallCap indices lost around 1.6% each, reflecting the widespread bearish sentiment. The advance-decline ratio in the market further indicated the negativity, with two stocks declining for every stock advancing.
This sharp decline follows a volatile trading session, where markets initially opened higher but failed to sustain those gains. Investors' sentiment remains fragile as global cues continue to weigh on the market, including concerns over inflation, the US-China trade conflict, and the potential impacts of the newly inaugurated US President Donald Trump's policies.
