Sensex slips over 600 points, Nifty settles below 22,400 mark
Business
The Indian stock market had a rough Monday, 12 October: Sensex dropped over 600 points, landing at 71,845, and Nifty 50 slipped below the 22,400 mark.
While these big indices struggled, mid-cap and small-cap stocks actually managed to rise a bit during the same session.
Banking and IT see heavy selling
Most of the damage came from heavy selling in banking and IT stocks, with the Nifty Bank index declining 1%, while the Nifty IT index plunged 1.2%.
On top of that, weak vibes from Asian markets kept investors cautious.