The Indian stock market experienced a significant downturn on Monday, with the BSE Sensex plummeting over 1,000 points and the Nifty 50 dropping sharply below 25,450.
The losses were largely driven by heavy selling in IT, auto, and bank stocks, which pulled down the benchmark indices. The tech sector was particularly hard hit, with companies like TechM and HCL Tech leading the declines.
Global fears also contributed to the market downturn, as investors worried about the impact of tariffs, AI concerns, and a weakening dollar on their portfolios.
However, cryptocurrency markets showed surprising resilience in the face of these challenges, with Bitcoin holding steady above $60,000 and even seeing some gains.