Foreign Market Mood Deteriorates, Indian Stock Market Hits Hard: Sensex and Nifty Plunge at Opening

The poor condition of foreign markets, particularly the American market, has caused a stir, leading to renewed fears of a recession. The Dow Jones and Nasdaq also experienced significant drops, which are now directly affecting the Indian stock market. As soon as trading began today, there was a major upheaval in both the Sensex and Nifty.

Current Status of Sensex and Nifty

On Tuesday, both the Sensex and Nifty closed with minor declines. However, on Wednesday, they experienced a significant drop right from the opening. The BSE Sensex is trading at 81,988.18 points, down by 567.26 points or 0.69%. 

Meanwhile, the NSE Nifty is trading at 25,094.40 points, down by 185.40 points or 0.73%. On Tuesday, the Sensex closed at 82,555.44 points, and the Nifty closed at 25,279.85 points.

Turmoil in Foreign Markets

After the Labor Day holiday on Monday, American markets saw a sudden and significant drop when they reopened on Tuesday. The Dow Jones and Nasdaq fell by up to 3%, while most sectors of the S&P 500 were in the red zone. This turmoil had a direct impact on Asian markets, with Japan’s Nikkei also dropping by 3%. 

Amidst the upheaval in the American market, the Nifty in India experienced a drop of nearly 200 points on Wednesday. Additionally, shares of chip maker Nvidia (NVIDIA stock) saw the largest decline of up to 10%.