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Indian benchmark indices slipped sharply in early trade on Tuesday, weighed down by weak global cues; What investors need to know
Stock Market Crash Today
Why Is The Market Falling Today? Indian benchmark indices slipped sharply in early trade on Tuesday, weighed down by weak global cues and broad-based selling in financial and IT stocks.
At 10:02 AM, the BSE Sensex tumbled 912 points or 1.11% to 81,264, while the Nifty50 declined 254 points or 1.02%, slipping below the 24,750 mark.
Among Sensex constituents, NTPC, Mahindra & Mahindra, Bajaj Finserv, TCS, HCL Technologies, and Infosys were the top drags, falling up to 1.5%. IndusInd Bank was the lone gainer in the pack.
On the global front, MSCI Asia ex-Japan dipped 0.2% after remaining flat on Monday. Sentiment turned cautious after US President Donald Trump postponed new tariffs on European Union imports to July 9, extending the initial June 1 deadline.
Sector-wise, Nifty Bank and Financial Services dropped around 0.7%. Other sectors, including IT, Auto, FMCG, and Oil & Gas, were down between 0.5% and 1%.
Shares of InterGlobe Aviation (IndiGo) slipped 3% following reports from CNBC-TV18 that co-founder Rakesh Gangwal offloaded a 5.8% stake via a block deal worth Rs 11,928 crore.
Meanwhile, FirstCry’s parent company Brainbees Solutions fell 4% after posting a net loss of Rs 111 crore in Q4FY25, widening from Rs 43 crore in the same quarter last year.
Expert Take
“In the near term, markets are likely to consolidate around current levels. With mutual funds holding substantial cash reserves, dips may attract buying interest, while high valuations could lead to profit booking on rallies. A meaningful rally will only emerge once there are clear signs of an earnings recovery, which may still be some time away,” said Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
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