Bloodbath on Dalal Street: Sensex, Nifty Plunge After Initial Rally

  •  Sharp reversal: Indian stock markets witnessed a dramatic reversal of fortunes today. Both Sensex and Nifty started the day with gains but ended sharply lower.
  • Magnitude of decline: Sensex closed down by over 5%, wiping out nearly 5,000 points. Nifty followed suit, shedding over 1,300 points or 6%.
  • Reason for fall: The decline is attributed to profit booking by investors, likely due to uncertainties surrounding the ongoing Lok Sabha election results.
  • Sectoral impact: All sectors witnessed losses, with media and metal stocks experiencing the steepest declines.
  • Market outlook: Volatility is expected to persist in the near future as investors monitor the political landscape and its potential impact on the economy.

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