New Delhi, April 25 (HS): The domestic stock market is experiencing a notable decline today, with the Sensex dropping below 79,000 points and the Nifty slipping past 24,000 points by the end of the first session. This downturn has led to significant losses for investors, totaling over 10 lakh crores. All sectoral indices are currently in the red, with banking stocks facing the most considerable decline during early trading.

Initially, the market opened with a brief upward trend in the first 10 minutes. However, this initial positivity was swiftly overshadowed by widespread selling, causing both Sensex and Nifty indices to see substantial losses. The Sensex plummeted by more than 1,500 points from its intraday peak, reaching a low of 78,605.81 points. Similarly, the Nifty decreased by over 500 points, falling to 23,847.85 points. A slight recovery was noted later due to some buying activity; by the session's close, the Sensex stood at 78,848.41 points, recovering nearly 240 points, and the Nifty improved around 100 points to finish at 23,951.45 points. The Smallcap index on the BSE ended down by 2.75%, and the Midcap index fell by 2.35%.

Market analysts attribute today's trading decline primarily to heightened tensions at the India-Pakistan border following a terrorist attack in Pahalgam. This geopolitical issue, combined with renewed withdrawals by foreign investors and profit booking initiated on Thursday at higher market levels, has further dampened market sentiment. Concerns over stock valuation in the Indian market are also contributing to the negative outlook.

Prashant Dhami, Vice President of Dhami Securities, commented that investors are closely monitoring the border situation following the terrorist attack, indicating that many are cautious about making significant trading decisions until any potential military actions are clarified. As tensions escalate, there is a fear that market sentiment may deteriorate further.

Ravi Chander Khurana, CEO of Khurana Securities and Financial Services, noted that prior to this downturn, the stock market was experiencing a bullish trend with significant gains over the past week. This positive trajectory lasted for seven consecutive trading days, during which the Sensex rose by 8.52%, adding over 6,400 points from a low of 73,847 to a peak of 80,254 points. The Nifty followed suit, increasing nearly 1,960 points from 22,399 to 24,359.

In light of the recent high valuations, many investors have started to take profits, which has undoubtedly contributed to the market's downward movement. The fear stemming from lackluster earnings reports from

Hindusthan Samachar / Jun Sarkar