Sensex Crashes 1,048 Points, Nifty Below 25,500 as Metal Stocks Bleed

At the closing bell, Sensex lost 1,048 points, or 1.25 per cent to settle at 82,626. The Nifty shed 336 points, or 1.30 per cent, to close at 25,471.

The sharp decline was largely driven by intensifying global concerns over AI-led disruption to India's outsourcing model.

The broader markets performed in line with benchmark indices, as Nifty Midcap 100 index dipped 1.71 per cent, while the NSE Smallcap 100 declined 1.79 per cent.

All sectoral indices traded with losses. Nifty metal was the top loser, down 3.31 per cent. Nifty realty followed with a decline of 2.23 per cent.

Nifty NEXT 50 also faced huge selling pressure and tumbled 1.56 per cent.The Nifty IT index after a decline of over 4 per cent, recovered over 1,000 points from the day's low down 1.44 per cent at closing bell. The Nifty FMCG shed 1.90 per cent.

Banking and midcap stocks also came under pressure. Market breadth stayed decisively negative, with 44 of the 50 Nifty constituents ending in the red.

Rupee traded slightly weak by Rs 0.06 at 90.61 against the dollar, while the dollar index remained flat near 97, keeping overall momentum range-bound, market participants said.

Analysts said defensive sectors showed relative resilience but could not offset broad based selling pressure, reflecting a cautious, risk-averse mood among investors.

The Nifty opened with a gap-down and moved below its key 21-, 50-, and 100-day moving averages, positioned at 25,480, 25,770, and 25,690, respectively. On the downside, the index is attempting to fill last week's gap.

"Bank Nifty slipped below a short-term consolidation range, indicating minor profit booking after the recent up move. However, the index continues to trade above its 20-day moving average placed near 59,700, which remains a crucial short-term support," said Vatsal Bhuva, technical analyst at LKP Securities.

- IANS