The Indian stock market declined for the second consecutive session on Wednesday, with the Sensex falling more than 650 points, or 0.80%, to an intraday low of 77,498. The Nifty 50 index also dropped over 200 points, or 0.84%, to an intraday low of 24,266, marking a significant selloff that wiped out ₹3 lakh crore in investor wealth, according to livemint.com.
The selloff was broad-based, impacting mid and small-cap segments alongside the benchmarks. Market participants cited multiple factors behind the decline, including domestic and global economic concerns. The intraday losses reflected investor caution amid ongoing volatility, with the Sensex and Nifty 50 both trading near their session lows by midday, as reported by livemint.com.
This downturn follows a period of market gains, highlighting the sensitivity of Indian equities to macroeconomic developments. The ₹3 lakh crore loss underscores the scale of the selloff, which comes amid mixed global cues and domestic inflationary pressures. The decline in mid and small-cap stocks further indicates a cautious stance among retail and institutional investors, as noted by livemint.com.
By early afternoon, the Sensex was trading near 77,498 points while the Nifty 50 hovered around 24,266. The next key market data release will be the August inflation report, expected to provide further clarity on economic conditions influencing investor sentiment, according to livemint.com.