Sensex Drops 2,600 Points: ₹14 Lakh Crore Loss Amid US Recession Fears and Other Factors
Market Capitalization Decline
BSE-listed companies' market cap drops by Rs 13.87 lakh crore to Rs 443.29 lakh crore.
India VIX Surges
Fear gauge India VIX sees a 59% spike, the biggest since 2015.
Sensex and Nifty Plunge
Sensex falls below Budget-day low; Nifty50 registers biggest single-day decline in over two months.
Nifty Bank in Red
Nifty Bank falls below 50-DMA; all major sectoral indices in the red.
Blue-Chip Stocks Hit
Tata Motors, Tata Steel, M&M, Maruti, and JSW Steel fall up to 6%.
Broader Market Decline
Nifty500 drops 2.7%, with Phoenix Mills, Motherson International, and Kalyan Jewellers dragging.
US Recession Fears
Job growth in July slows more than expected; unemployment rate rises to 4.3%.
Yen Carry Trade Unwinds
BoJ's interest rate hike leads to yen appreciation, affecting global markets.
Geopolitical Tensions
Rising tensions in the Middle East impact market sentiment and drive fuel prices higher.
Overvaluation Concerns
India's market capitalization to GDP ratio hits a record high, raising overvaluation concerns.
Technical Triggers
Nifty remains vulnerable to corrective pressure and profit-taking from higher levels.