A broad sell-off erased over Rs 3 lakh crore in market cap as US tariff threats and FII outflows hit financials and tech. HDFC Bank, Infosys, Wipro fell sharply.
Indian equities suffered their worst session in weeks as the Sensex plunged more than 800 points, wiping out over Rs 3 lakh crore in market capitalization. The Nifty 50 fell below the 23,000 mark in afternoon trade, dragged by financials and technology stocks.
The sell-off came as US tariff threats reignited trade war fears, prompting foreign investors to pull money from emerging markets. Domestic institutional buying could not offset the exodus, traders said. HDFC Bank, the heaviest weight on the Sensex, dropped 3%, while Infosys and Wipro each lost around 4%.
The broad decline hit HDFC Bank's Alpha Score of 37 (Mixed) and Infosys's 57 (Moderate) on the AlphaScala platform, reflecting the sector's vulnerability to global risk-off moves. Wipro, with an Alpha Score of 46 (Mixed), followed the trend.
The rupee weakened past 87 against the dollar, adding to the pressure on import-heavy sectors. Technology firms, which earn a majority of revenue in dollars, saw limited relief as the broader market rout overshadowed any currency benefit.
The Nifty closed at 22,950, down 2.4%, its biggest single-day drop since December.
Prepared with AlphaScala editorial tooling from the source reporting linked above. Indexable analysis may include a cited Alpha Score value. Publishing checks screen each story before release. Educational coverage, not personalized advice.