The Indian stock market took a significant hit on November 7, with Sensex and Nifty 50 falling over 1% amid widespread selling. Discover the top reasons behind this sharp decline and its implications for investors navigating this turbulent landscape.

The Indian markets appear to have come down with Trump fever. After rallying with gains of over 1 per cent in the intraday trade on Wednesday, the marquee Indian indices dropped to new lows at the Dalal Street on Thursday.

Apollo Hospitals, HDFC Life, SBI, and TCS were the only four Nifty50 constituent stocks to manage to settle in the green on Thursday

The trends on Gift Nifty indicate a weak start for the Indian benchmark index. The Gift Nifty was trading around 24,215 level, a discount of nearly 80 points from the Nifty futures’ previous close.

The Sensex rose to 80,489.70, which is up 1,013.07 points or 1.27%, while the Nifty rose to 24,514.35, which is 301.05 points or 1.24% up

The BSE Sensex was up 251.87 points to 79,728.50 points at 10:31 am, while the NSE Nifty rose 74,20 points to trade at 24,287.50.

Indian benchmark indices Nifty 50 and Sensex ended the previous trade session in the green. Nifty 50 closed at 24,213.30, while Sensex ended at 79,476.63. Overnight, Wall Street indices ended higher ahead of the US election 2024 outcome.

In overnight trade, Dow Jones Industrial Average climbed 427.28 points, or 1.02 per cent, at 42,221.88. The S&P 500 index also jumped 70.07 points, or 1.23 per cent, to 5,782.76.