Today, benchmark index Nifty 50 fell below the critical 26,000 level, and the Sensex plummeted by over 1,000 points, largely due to significant profit-taking in financial and auto stocks.

The Nifty fell by 368.10 points to close at 25,810.85, while the Sensex dropped 1,272.07 points to end at 84,299.78. The Nifty Midcap 100 Index slipped only 0.38%, compared to a 1.41% decline in the Nifty.

Out of 50 Nifty stocks, 40 closed lower, with significant losses in the auto sector; Hero MotoCorp and TVS Motors both fell by 4%. Key heavyweights like Reliance Industries, ICICI Bank, HDFC Bank, and Axis Bank significantly contributed to the Nifty’s decline.

The Nifty Bank Index fell by 856.20 points to 52,978.10, while the Nifty Midcap 100 Index dropped 227.35 points to 60,153.80. The Nifty Metal Index continued to rise due to ongoing stimulus efforts in China.

The Nifty Realty Index declined for the second session, with some stocks falling up to 5%.

Aurobindo Pharma shares slipped by 2% after the USFDA issued 10 observations to its Telangana facility. Profit booking affected Trent and Bharat Electronics, both down by 3% after their Nifty inclusion.

NMDC rose by 4% as iron ore prices surged, marking its eighth consecutive session of gains.

Indian Oil Corporation recovered to close 2% above its lows after withdrawing a proposed rights issue of up to Rs 22,000 crore. Ola Electric’s stock dipped below Rs 100 for the first time since listing, falling by 2%.

Shakti Pumps (India) surged by 5% after announcing a board meeting to consider a bonus issue of shares, hitting an upper circuit of Rs 4,295.45.

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