A sharp downturn gripped Indian equity markets as as many as 122 stocks on the National Stock Exchange (NSE) slumped to their 52-week lows, reflecting growing investor anxiety amid weak sentiment and sustained selling pressure.
Among the major laggards were heavyweight financial institutions such as HDFC Bank, ICICI Bank, and insurance giant Life Insurance Corporation of India. Their decline significantly weighed on benchmark indices, given their substantial market capitalization and influence.
Shares of Swiggy also featured on the list, highlighting broader weakness extending beyond banking into new-age and consumer-tech sectors. Market participants noted that persistent selling in both traditional and emerging sectors indicates a lack of confidence among investors in the near-term outlook.
Analysts attribute the fall to a combination of global uncertainties, cautious investor sentiment, and profit-booking after recent rallies. Concerns around interest rates, inflationary pressures, and foreign institutional investor (FII) outflows have further intensified the downturn.
The broader market mirrored the weakness, with mid-cap and small-cap stocks witnessing heavy selling, leading to a widening of losses across sectors. Market experts suggest that the correction may continue in the short term unless strong positive triggers emerge.
Investors are advised to remain cautious, focus on fundamentally strong stocks, and avoid panic selling as volatility is expected to persist in the coming sessions.
