Sensex tanked 721 pts while Nifty50 slipped below 24,850. Here’s what dragged Dalal Street down:
1. Financial Stocks Hit Hard
Bajaj Finance plunged nearly 5% after Q1 results raised red flags around MSME loans.
Other lenders such as HDFC Bank, SBI, Kotak, Axis also fell.
Nifty Financial Services Index down over 0.9%.
2. US-India Trade Deal Stalled
No breakthrough on tariffs.
The August 1 deadline looms, uncertainty rising.
Trade talks stuck on dairy & agri terms.
3. FII Sell-off Continues
FIIs have dumped ₹11,572 crore in just 4 sessions.
Heavy outflows + smallcap correction = weak market sentiment.
4. India-UK FTA Signed, BUT…
Sectors like textiles & autos may benefit.
But lack of clarity on the US front means no immediate boost for markets.
5. Weak Global Cues
Asian indices dipped across the board.
Hang Seng -1.1%, Nikkei -0.8%, ASX -0.5%.
Investors cautious ahead of US Fed meeting & Big Tech earnings.
M-Cap Loss: ₹6.5 lakh crore gone in a day.
Stay tuned. Volatility isn’t going anywhere.