Sensex crashes 1,400 points: 6 factors underlining bearish sentiment

Tracking overnight slump in the Wall Street, the worst selloff seen since June 2020, analysts believe that the markets will remain on edge over fears of recession and concerns of a hawkish US Fed

Rising inflation concerns, coupled with fears of aggressive rate hikes by global central banks, hurt Indian equity markets on Thursday. The S&P BSE Sensex crashed over 1,400 points, while the Nifty50 broke below the psychological mark of 15,900, tracking the overnight slump on Wall Street.

Sectorally, all indices thrashed in trade with the Nifty IT bleeding the most by over 5 per cent. Besides, the Nifty Metal and Nifty Media also sunk over 4 per cent and 3 per cent, respectively. Meanwhile, broader markets traded tepid as Nifty Midcap 100 shed nearly 3 per cent and Nifty Smallcap 100