Dalal Street Turns Red: Nifty Slips Below 23,800 as PSU Banks Tumble 4%

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Market Bloodbath

Nifty plunges 671 points (2.74%) to 23,778; Sensex crashes 2,205 points (2.80%) to 76,712. Benchmark enters correction, down 10% from January 5 record high of 26,373

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PSU Banks Worst Hit

Nifty PSU Bank index crashes 4%+ at open, biggest sectoral loser. SBI, Bank of Baroda, PNB lead decline. Financials underperform as crude spike threatens NPA cycles, margins

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Oil Apocalypse

Brent crude explodes 25% to $115.77/barrel after Iran shuts Strait of Hormuz, 20% global oil flows disrupted. Kuwait, UAE, Iran cut production. Trump says "small price for peace

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Rupee Collapses to 92.31

Currency hits all-time low, worst two-day decline since May 2025. Rising oil import bill, widening trade deficit, FII exodus crush rupee. RBI intervention failing to stem slide

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Technical Breakdown Confirmed

Nifty below all key moving averages. Support at 24,300-24,340 breached. Next targets 23,900-24,100. VIX fear gauge surges 17%. Breadth dismal: only 32 stocks advancing per 100 declining on BSE

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Dalal Street Turns Red: Nifty Slips Below 23,800 as PSU Banks Tumble 4%

Market BloodbathNifty plunges 671 points (2.74%) to 23,778; Sensex crashes 2,205 points (2.80%) to 76,712. Benchmark enters correction, down 10% from January 5 record high of 26,373

PSU Banks Worst Hit Nifty PSU Bank index crashes 4%+ at open, biggest sectoral loser. SBI, Bank of Baroda, PNB lead decline. Financials underperform as crude spike threatens NPA cycles, margins

Oil ApocalypseBrent crude explodes 25% to $115.77/barrel after Iran shuts Strait of Hormuz, 20% global oil flows disrupted. Kuwait, UAE, Iran cut production. Trump says "small price for peace

Rupee Collapses to 92.31Currency hits all-time low, worst two-day decline since May 2025. Rising oil import bill, widening trade deficit, FII exodus crush rupee. RBI intervention failing to stem slide

Technical Breakdown ConfirmedNifty below all key moving averages. Support at 24,300-24,340 breached. Next targets 23,900-24,100. VIX fear gauge surges 17%. Breadth dismal: only 32 stocks advancing per 100 declining on BSE