The Indian stock market experienced a sharp decline on October 7, 2024, with both major indices closing significantly lower. The BSE Sensex fell by 638 points, closing at 81,050, while the NSE Nifty50 dropped 218 points to finish below the 24,800 mark. This downturn was largely attributed to selling pressure in several sectors, with mid-cap and small-cap stocks hit the hardest, seeing losses of 1.85% and 3.27%, respectively.

Global factors, including geopolitical tensions and rising oil prices, are contributing to the market’s volatility. Additionally, foreign institutional investors (FIIs) have been pulling out funds from Indian equities, which has further impacted market sentiment. Certain public sector enterprises (PSE) such as Rail Vikas Nigam and SAIL saw declines of up to 8% during the session