Lagatar24 Desk
Indian stock markets witnessed a steep sell-off on Monday, with the Nifty dropping 300 points and the Sensex plunging over 900 points shortly after opening, breaking key psychological levels for both indices.
Nifty Breaks 23,000, Sensex Falls Below 73,000
The sharp decline saw the Nifty break below the 23,000 mark, trading above 22,800, while the Sensex slipped past the 73,000 level to trade around 72,900. The sell-off was broad-based, with not a single stock among BSE Sensex constituents trading in the green — all counters were in the red, with Trent shares witnessing the steepest fall of 1.87 percent.
Analysts Point to Deeper Structural Concerns Behind the Fall
While experts have largely attributed the decline to weakness in global markets, the continued slide — coupled with the market remaining range-bound for the past three years despite claims of India recording the world’s fastest GDP growth — points to underlying structural weaknesses in the economy. According to analysts, while listed companies’ profits have been rising, their sales have not kept pace, leaving consumers grappling with inflation on one hand while corporate growth stagnates on the other. Industrialists, they note, are largely booking profits without setting up new factories, a trend that is in turn weighing on employment generation.
