Markets Slump: Sensex Falls 500 Points, Nifty50 Dips Below 24,650; Dixon Tech Hits Record High
Indian equity markets continued their downward trajectory today, with major indices recording significant losses. The SENSEX plunged by 500 points, while the NIFTY50 slipped below the critical 24,650 mark, reflecting heightened volatility and weak investor sentiment.
Despite the broader market downturn, Dixon Technologies emerged as a standout performer, hitting a fresh record high. The electronics manufacturing giant defied the market trend, buoyed by strong fundamentals and optimistic growth projections in the consumer electronics and contract manufacturing sectors.
Market Highlights:
- SENSEX: Down 500 points, pressured by sell-offs in IT, banking, and energy stocks.
- NIFTY50: Breached the 24,650 mark, dragged down by losses in heavyweights like Reliance Industries and HDFC Bank.
- Sectoral Performance: Most sectors traded in the red, with the IT and realty indices leading the declines.
- Dixon Technologies: The stock hit an all-time high, supported by robust earnings and bullish investor sentiment.
Experts attribute the market’s slump to global economic uncertainties, rising crude oil prices, and cautious investor behavior ahead of key domestic policy announcements. Analysts suggest keeping a close watch on global cues and sector-specific developments to navigate the ongoing volatility.
