Sensex slips over 400 points; Nifty ends below 26,100
Indian stock markets had a rough day—Sensex dropped 400 points to close at 85,231.92, and Nifty finished at 26,068.15, down by 124 points.
The fall came as global signals turned weak and investors grew more cautious, with the India VIX jumping over 10% to 13.39.
Why does this matter?
Pretty much every sector took a hit except FMCG (think daily essentials), with metals and real estate stocks hurting the most.
VK Vijayakumar, Chief Investment Strategist at Geojit Investments, is urging folks to stick with quality stocks instead of chasing risky new listings.
For those watching the charts: Nifty's next resistance is around 26,270, while support sits near 25,850.
What's behind the drop?
The slump followed Wall Street's tech sell-off after NVIDIA's earnings initially boosted gains, and mixed US jobs data—global jitters spilled over here too.
Cautious vibes spread through markets worldwide.