"Stock Market Slumps: BSE Sensex and Nifty50 Fall, Rupee Hits Record Low"

 Stock Market Update: BSE Sensex and Nifty50 Fall, Rupee Hits Lifetime Low

The Indian stock market experienced a sharp decline on Monday morning, with both benchmark indices, BSE Sensex and Nifty50, crashing in early trade. At 9:31 AM, BSE Sensex was down 652 points, or 0.84%, trading at 76,726.48. Meanwhile, Nifty50 was at 23,229.90, down 202 points, or 0.86%. The Indian rupee also tumbled, hitting a lifetime low of 86.27 against the US dollar, down by 23 paise in early trading.

Friday’s trading session had already been subdued, with rising crude oil prices and a stronger US dollar index weighing on market sentiment. Analysts suggest that the market could continue to consolidate, with investors watching closely for any developments related to US non-farm payroll data, which could impact global market trends.

Nagaraj Shetti, a market analyst, noted that a significant decline below the current support levels could lead to further downside, potentially bringing Nifty50 closer to the 23,260 mark. Immediate resistance is seen around 23,700.

US markets also saw a sharp downturn on Friday, with the S&P 500 erasing its 2025 gains. This was driven by strong employment data that raised concerns about inflation and reinforced expectations that the Federal Reserve may slow its pace of rate cuts.

As global economic factors continue to influence market behavior, investors are bracing for possible volatility in the coming weeks.