Stock Market
Mayhem in markets! Sensex plunges, Nifty breaks key level — what’s triggering the crash?
Mumbai/IBNS: The Indian stock market witnessed a sharp decline on Tuesday as benchmark indices extended their losing streak from the previous session.
The BSE Sensex tumbled over 600 points in the opening hour before recovering marginally, while the NSE Nifty 50 slipped below the 26,000 mark.
The Sensex dropped by around 620 points soon after the opening bell. The Nifty 50 was down 196 points in early trade, sliding further after Monday’s steep fall.
According to The Times of India, the volatility is being driven by fluctuations in the INR-USD exchange rate, foreign institutional investor (FII) flows and tightening secondary-market liquidity, particularly at a time of heightened investor activity in the primary market.
Market expert Anil Singhvi told Zee Business that he expects immediate support for the Nifty 50 in the 25,825–25,900 range, with a stronger support zone between 25,675–25,800.
For the Nifty Bank index, Singhvi projected support emerging at 58,825–59,900, and a deeper support range at 58,525–58,750.
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