Sensex Sheds 550 Pts, India VIX Jumps 7%, Nifty Sectors Painted in Red

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Sensex Sheds 550 Pts, India VIX Jumps 7%, Nifty Sectors Painted in Red

By Malvika Gurung -- The domestic market indices made a negative start on Wednesday amid weak global cues, as Asian markets in early trade witnessed deep sell-offs following an overnight tumble on Wall Street, as the latter posted its worst performance in 2023.

Benchmark indices extended the lower open and slipped further in red on Wednesday, as Nifty50 declined 0.9% to 17,668.8 points and Sensex shed 548.19 points or 0.91% at 11:07 am.

Meanwhile, the market fear barometer India VIX jumped 7% to 15 while zooming almost 12% in Wednesday’s session to hit the day’s high at 15.65 levels.

Losses across Dalal Street were majorly led by realty, banking, metals and financial stocks.

On the Nifty index, the Adani Group majors Adani Enterprises (NS: ADEL ) and Adani Ports (NS: APSE ) tumbled the most, followed by market heavyweights including Bajaj Finance (NS: BJFN ), Bharat Petroleum (NS: BPCL ), Reliance (NS: RELI ), Tata Motors (NS: TAMO ), SBI (NS: SBI ), JSW Steel (NS: JSTL ), NTPC (NS: NTPC ), PowerGrid Corp (NS: PGRD ) and IndusInd Bank (NS: INBK ), among others.

The auto major Bajaj Auto (NS: BAJA ) was the top gainer on the Nifty pack, followed by Hindalco (NS: HALC ), Coal India (NS: COAL ) and Divi's Laboratories (NS: DIVI ). 

All the sectoral indices under the Nifty umbrella appeared like a sea of red, with losses led by Nifty Realty , Nifty Metal and Nifty PSU Bank . Nifty Bank tanked 1.2%.

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