Charts suggests that the Sensex could slide down to 72,000 levels, in the worst-case scenario, wiping out all the gains made thus far in calendar year 2024 (CY24).

At 11:26 IST, the barometer index, the S&P BSE Sensex slumped 1,312.19 points or 1.63% to 78,411.33. The Nifty 50 index dropped 437.50 points or 1.80% to 23,866.85.

Investors’ wealth eroded by Rs 7.37 lakh crore on Monday morning, as the equity markets fell sharply with the BSE Sensex tumbling 1,192 points.
Markets were dragged down by Reliance Industries and unabated selling by foreign investors. Investors also turned cautious ahead of the US presidential elections and Federal Reserve interest rate decision scheduled to be announced later this week.
The BSE benchmark tanked 1,192 points to 78,532.12 during the morning trade.
In-line with a weak trend in equities, the market capitalisation of BSE-listed firms eroded by Rs 7,37,744.54 crore to Rs 4,40,72,863.01 crore (USD 5.24 trillion).
From the 30-share Sensex pack, Sun Pharma, NTPC, Reliance Industries, Adani Ports, Power Grid, Tata Motors, Titan and Tata Steel were among the major laggards.
Mahindra & Mahindra, Tech Mahindra, HCL Technologies and IndusInd Bank were the gainers.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 211.93 crore on Friday, according to exchange

Sun Pharmaceutical Industries slipped 4.30% to 1,778.85 after the US District Court of New Jersey has decided to grant a preliminary injunction delaying the launch of Leqselvi (Baldness treatment) in the US.

Mahindra & Mahindra added 1.11% to Rs 2,848.20 after the auto major’s overall auto sales grew by 19.79% to 96,648 vehicles sold in October 2024 as against 80,679 vehicles sold in October 2023.