Sensex and Nifty Tumble Nearly 2%, Market Faces Sharp Sell-Off
February 28, 2025 – The Indian stock market experienced a significant downturn today as the benchmark indices Sensex and Nifty plunged nearly 2% in an intense intra-day sell-off, closing deeply in the red. The market’s deterioration wiped out substantial value from BSE-listed companies and dragged all sectoral indices into negative territory, with losses reaching as high as 10% in some segments.
Market at Multi-Month Lows
The Nifty index fell to its lowest level since June 2024, marking a steep retreat after months of volatility. Both the Sensex and Nifty have declined approximately 16% from their all-time highs, signaling growing investor concerns. The midcap sector was hit even harder, plunging by 22% from peak levels. Overall, the sell-off resulted in the erosion of more than Rs 9 lakh crore in market capitalization in a single trading session, reflecting broad market weakness.
Top Losers in the Index
Among the major decliners, IT services giant Tech Mahindra emerged as the worst performer in the Sensex 30 pack. Its stock price dropped by 6.19% on Friday, further extending its losses for the month to 11.26%. Over the last six months, Tech Mahindra’s shares have declined by nearly 9.76%, though the stock still retains a 15.56% gain compared to the same period last year. The company’s 52-week price range stands between Rs 1,162.95 and Rs 1,807.70. Banking sector stock IndusInd Bank also faced a sharp correction, declining 5.48%. The bank’s shares have been in a downward spiral, losing 32.90% over the past six months and approximately 32.91% year-on-year, reflecting significant investor apprehension toward the stock.
Automobile heavyweight Mahindra & Mahindra (M&M) witnessed its stock price fall by 5.21%. The company’s shares have slipped 13.21% over the past month and 6.55% over the last six months, even as they remain 36.46% higher than a year ago.
Telecom major Bharti Airtel closed 4.86% lower amid the sell-off. Its stock currently trades 11.76% below its 52-week high of Rs 1,779. Nonetheless, it remains a strong performer over the longer term, gaining 39% annually.
IT sector leader Infosys also felt the heat, losing 4.32% during today’s session. While the stock has fallen 13.82% over the past six months, it remains modestly positive year-on-year with a 1.30% appreciation.
Sectoral Weakness and Market Sentiment
The broad-based decline across sectoral indices underscores the widespread caution prevailing among investors. Several sectors witnessed double-digit percentage losses at various points during the trading day, reflective of risk-off sentiment amid volatile economic conditions.
The recent downturn has prompted market participants to closely monitor key economic indicators and corporate earnings reports for signs of a potential recovery. Investors are advised to stay updated with market trends and consider expert advice when adjusting portfolios during such turbulent periods.
For real-time updates on Nifty 50, BSE Sensex levels, and detailed stock market analyses, investors can refer to Financial Express’s comprehensive coverage and download its app for instant business news alerts and investment insights.
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