Sensex and Nifty witness sharp declines, value stocks in focus

India’s primary stock indices, the Sensex and Nifty, started Thursday with notable drops following Wednesday’s unexpected market downturn that took investors by surprise, triggering panic selling.

The 30-share BSE Sensex fell by 405.2 to reach 70,101.11, while the NSE Nifty dropped 131.45 points, trading at 21,018.70 during early trade.

Analysts foresee potential value buying, especially in large-cap stocks, while smaller-cap and mid-cap stocks may face pressure.

Market concerns around rising Covid cases and geopolitical tensions have impacted investor sentiment, leading to a sharp market fall. Despite this, analysts remain optimistic about India’s structural growth story, anticipating investment opportunities in quality stocks amid potential dips. Volatility is expected in the near term, with key benchmarks likely to consolidate amidst technical conditions favouring medium-term bullish outlooks.