Indian markets surrendered to weak global cues amidst rising yields and the dollar index on Friday and extended their downfall. Sensex nosedived over 1,245 points and Nifty 50 plummeted more than 380 points today on a broad-based selloff across sectoral indices. Steep profit booking in IT, consumer durables, and auto stocks soured markets' moods heavily. Fears of recession due to concerns of a slowdown in major economies acted as the elephant in the room for dragging markets globally. On Dalal Street, over 6.18 lakh crore of investors' wealth eroded in a single day. Markets to focus on monetary policy outcomes of major central banks ahead.
Sensex plunged by 1,093.22 points or 1.82% to settle at 58,840.79. The benchmark has dived by at least 1,246.84 points in the day with an intraday low of 58,687.17.In broader , Sensex Next 50 was the top laggard by slipping over 1,600 points. The midcap index dropped by nearly 2.9%, while the small-cap index dipped around 2.4% -- taking a toll on overall performance.
