Nifty slips to 23,818.80 as Sensex tumbles over 700 points
The Indian stock market took a hit on Wednesday, with Nifty trading at 23,818.80, falling below the key 24,000 mark, and Sensex tumbling by more than 700 points.
The sell-off was mainly triggered by a sharp jump in oil prices and rising US Treasury yields, making investors nervous.
Coal India gains amid broad selloff
While most stocks struggled, Coal India stood out as a top gainer, climbing over 3%. ONGC, Sun Pharma, and L&T also managed small gains.
Infosys led IT sector losses with nearly a 3% drop as tech stocks felt the pressure, while financial stocks faced higher oil costs.
Globally, markets were shaky too: Japan's Nikkei fell hard and Wall Street saw its third straight day of losses.
Analysts say if Nifty falls decisively below 24,000, we could see an even bigger correction ahead.