October 26, 2023: Indian markets witnessed a huge sell-off The sell-off was led by weakness in the IT, banking, and financial services sectors. IT stocks were the worst hit, with the Nifty IT index falling by over 5%. Banking and financial services stocks also fell sharply, with the Nifty Bank index losing over 3%.
Other sectors that saw heavy selling on Friday included metals, auto, and pharma.
There were a number of factors that contributed to the sell-off in the Indian markets. One factor was the global sell-off in equity markets. The US markets had closed sharply lower on Thursday, and this sell-off spilled over to Asian markets on Friday.
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