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Why did Sensex tank 1235 points to 7-month low today?
Sensex plummeted 1,235.08 points to settle at 75,838.36 dragged by losses in ICICI Bank and Mukesh Ambani's Reliance Industries.
Updated : Jan 21, 2025, 06:31 PM IST
 "Why did Sensex tank 1235 points to 7-month low today?")
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Benchmark Sensex tanked 1,235 points to settle at more than seven-month low due to an across-the-board selloff triggered by global tariff war worries and persistent foreign fund outflows, making investors poorer by over Rs 7 lakh crore.
The 30-share BSE Sensex plummeted 1,235.08 points or 1.60 per cent to settle at 75,838.36 dragged by losses in ICICI Bank and Mukesh Ambani's Reliance Industries. During the day, the BSE benchmark plummeted 1,431.57 points or 1.85 per cent to hit an intraday low of 75,641.87. The broader NSE Nifty plunged 320.10 points or 1.37 per cent to close at 23,024.65, a level not seen since June 6, 2024. In the intraday trade, the NSE Nifty plunged 367.9 points or 1.57 per cent to 22,976.85.
The market capitalisation of BSE-listed companies eroded by Rs 7,52,520.34 crore to Rs 4,24,07,205.81 crore or USD 4.90 trillion. "Domestic markets experienced a significant decline today, with heightened volatility, followed by Trump's announcement of trade tariffs on neighbouring countries on his inauguration day, adding uncertainty into global markets. "The weak recovery in the ongoing Q3 earnings, coupled with a depreciating INR, are likely to prompt further outflows from FIIs," Vinod Nair, Head of Research, Geojit Financial Services said.
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Among Sensex shares, Zomato fell the most by 10.92 per cent due to weak Q3 earnings. NTPC, Adani Ports, ICICI Bank, State Bank of India, Reliance Industries, Mahindra & Mahindra, Bajaj Finance, Tech Mahindra and Axis Bank were among the major laggards. UltraTech Cement and HCL Technologies were the only gainers. The BSE midcap gauge declined 2 per cent and smallcap index slumped 1.94 per cent.
(Except for the headline, this story has not been edited by DNA staff and is published from PTI)
