Market
Bloodbath on Dalal Street! Sensex cracks 600 points, Nifty below 25,200
Mumbai/IBNS: Indian equity benchmarks traded sharply lower on Thursday, with the BSE Sensex plunging over 500 points and the NSE Nifty 50 slipping below the 25,200 mark amid heavy selling pressure, media reports said.
At around 10:15 am, the Sensex was down 576 points, while the Nifty hovered just above 25,200. At one point during early trade, the Sensex losses had widened beyond 600 points.
TCS, Titan, Trent and BEL were among the top laggards on the Nifty in the early hours.
The market correction comes a day after benchmarks closed higher, extending gains for the second consecutive session following optimism around the historic India–UK trade deal.
However, investor sentiment turned cautious ahead of the Union Budget, which Finance Minister Nirmala Sitharaman is scheduled to present on February 1.
Market expert Anil Singhvi told Zee Business that the Nifty 50 is expected to find support in the 25,150–25,250 range, with a strong buy zone seen between 24,925 and 25,050.
Singhvi added that Nifty Bank may see support at 59,200–59,400 levels, while the strong buy zone is placed between 58,800 and 59,000.
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