Stock Market
Dalal Street in panic mode! Sensex crashes 700 points, Nifty tanks as big stocks bleed
Mumbai: Indian equity benchmarks nosedived on Friday, with the BSE Sensex plunging over 700 points to slip below the 83,000 mark, while the NSE Nifty 50 dropped more than 200 points in a broad-based selloff.
Among major laggards, Muthoot Finance shares tanked over 11% in morning trade, emerging as one of the biggest losers in the Nifty 500 pack alongside Birlasoft, CRISIL, and Praj Industries.
The Nifty IT index, however, staged a partial recovery, rebounding nearly 1,000 points from the day’s lows to limit losses to under 2%. Tracking the rebound, Mphasis turned positive in intraday trade.
Meanwhile, heavyweight Reliance Industries slipped around 2% during the morning session, adding pressure on benchmark indices.
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