Indian Stock Market Plunges: Sensex Falls 900 Points, Nifty Drops Below 23,600 Amid Crude Price Surge

Market Report - Thursday, [Date]

Key Indicators:

• Sensex: Declined by 1.23% to 75,921.04
• Nifty: Slipped by 1.13% to 23,596.20 as of 9:18 a.m.

Sectoral Performance:

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• Major Laggards:

• Mahindra & Mahindra: Down by up to 4.5%
• Tata Motors Passenger Vehicles: Declined by up to 4.5%
• Eternal: Dropped by 3%

• Gainers:

• Reliance Industries: Rose by up to 0.2%
• Coal India: Increased by up to 0.2%

Market Breadth:

• Advancers: 843 shares
• Decliners: 2,388 shares
• Unchanged: 179 shares

Industry Trends:

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• Online Food Delivery: Shares of Swiggy and Eternal were under pressure, with Swiggy falling by 2.2% and Eternal dropping by 3%
• Commercial LPG Shortage: Expected to lead to a temporary decline in order volumes for online food delivery companies due to the West Asia conflict

Global Market Trends:

• Rising Crude Prices: Brent Crude surged by 8.98% to USD 100.24 per barrel
• Trade Worries: US administration initiated a fresh trade investigation targeting 16 major trading partners, including India, China, and the European Union
• India VIX: Jumps by 6% to 22.32
• Rupee Weakens: Depreciated by 31 paise to 92.32 against the US dollar
• Global Cues: Asian markets, including Japan's Nikkei 225, South Korea's Kospi, China's Shanghai Composite, and Hong Kong's Hang Seng Index, were trading lower

FII Activity:

• Foreign Institutional Investors (FIIs): Sold equities worth Rs 6,267.31 crore on Wednesday, with net sales of over Rs 39,000 crore in the past seven sessions