Sensex tumbles 500+ points, Nifty slips below 24,700; India VIX surges 10%

Indian equity markets faced a volatile midday session on Monday as investors grappled with mixed sentiment and stock-specific movements. The benchmark indices, BSE Sensex and Nifty50, were trading lower amid cautious optimism.

By 1:10 PM, the Sensex had shed 369 points, or 0.46 per cent, to trade at 81,741.61, while the Nifty50 dropped 102 points, or 0.41 per cent, to settle at 24,665.70. Market breadth indicated a mixed tone with 2,207 stocks advancing against 1,784 declines out of 4,141 stocks traded on the BSE.

Sectoral and stock performance

Sectorally, the market exhibited divergent trends, reflecting the uncertainty among investors. Among individual stocks, Dr Reddy’s Laboratories gained the most on the Sensex, climbing 1.41 per cent, while Titan Company led the laggards, falling 2.10 per cent.

In a sign of heightened stock-specific volatility, 279 stocks hit their 52-week highs, while 18 touched 52-week lows. Additionally, 404 stocks were locked in the upper circuit, whereas 246 stocks hit the lower circuit.

Broader market sentiment

The broader market showed resilience in pockets despite the overall decline in the benchmark indices. Analysts noted that investor sentiment remains cautious ahead of key macroeconomic data releases and global cues, including the U.S. Federal Reserve’s monetary policy announcement later this week.

While markets are grappling with near-term headwinds, experts suggest that dips could offer long-term buying opportunities. With volatility expected to persist, investors are advised to remain selective and focus on fundamentally strong stocks.

The day’s trajectory will likely hinge on global market trends and any updates on economic data or corporate developments.