After a euphoric rally on Monday, where the Sensex surged nearly 3,000 points and the Nifty closed just shy of 25,000, Tuesday brought a stark reversal. The Sensex tumbled over 900 points, and the Nifty slipped below the 24,700 mark, erasing a significant portion of the previous day’s gains
This abrupt shift underscores the market’s sensitivity to geopolitical developments and sector-specific pressures. The earlier optimism was fueled by a tentative ceasefire between India and Pakistan, but the fragility of this agreement, coupled with concerns over IT and banking sectors, led to a swift downturn.
Sectoral Highlights: Pharma Shines Amidst the Gloom
Market Mood Swings: From Euphoria to Caution in a Day
Amid the broader market decline, Sun Pharma emerged as a notable gainer, rising 3%. This uptick is attributed to investor confidence in the pharmaceutical sector’s resilience and potential growth.
In contrast, Swiggy experienced a sharp fall of 7%, reflecting investor caution towards tech and startup stocks in the current volatile environment.
Rojalin Das
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