Sensex slips 450 points, Nifty settles below 25,650
On Friday, the Sensex and Nifty cooled off after hitting new peaks, with the Sensex dropping about 450 points to 83,683 and the Nifty dipping below 25,650.
The slide came as both global and local factors weighed in.
Profit booking in heavyweight stocks
If you're tracking your investments or just curious about market mood, here's the scoop:
Investors started booking profits at high levels, especially in big names like Adani Enterprises and Tata Motors.
Meanwhile, shaky signals from the US—like bank worries after Zions Bancorporation's loan losses and a fraud suit at Western Alliance—spooked global markets.
IT stocks drag Nifty down
It wasn't just India—Asian markets in Japan and Hong Kong also took a hit, showing that risk aversion is global right now.
Back home, IT stocks dragged things down further, with Wipro tumbling nearly 5% after weak results and Infosys shares slipping post-earnings.
All this has left investors a bit cautious as they watch for what comes next.