Markets crash: Sensex falls nearly 1000 points, all sectors in the red

Benchmark equity indices Sensex and Nifty went into a tailspin after hitting their fresh all-time high levels on Wednesday, closing down by over 1% as investors cashed in on the recent rally.

Erasing all its early gains, the 30-share BSE Sensex crashed 930 points to settle at 70,506. The index rose and later gained 475 points to hit its all-time high of 71,913. However, selling across the board dragged the barometer down from record highs and it dropped to a low of 70,302

The Nifty fell by 302 to 21,150. During the day, it climbed 139 to reach its record high of 21,593.

All the 30 Sensex shares, except for HDFC Bank, closed in the red. Tata Steel fell the most by 4%. NTPC, Tata Motors, HCL Technologies, Mahindra & Mahindra, State Bank of India, Power Grid, Tech Mahindra, Larsen & Toubro and JSW Steel also declined.

Global oil benchmark Brent crude jumped 0.76% to $79.83 a barrel.

According to exchange data, Foreign Institutional Investors (FIIs) offloaded equities worth ₹601.52 crore on Tuesday.

In the broader market, the BSE smallcap gauge fell more than 3% and the midcap index also declined by 3%

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