Indian markets close deep in red amid broad-based selloff

The Indian stock market witnessed a sharp downturn on Thursday (May 22), with benchmark indices ending deep in the red as investors offloaded equities across the board.

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Persistent selling pressure, particularly in heavyweight sectors such as Auto, IT, and FMCG, dragged the markets lower despite a stable start.

The BSE Sensex fell 644.64 points, or 0.79%, to close at 80,951.99, while the broader NSE Nifty 50 lost 203.75 points, or 0.82%, to settle at 24,609.70. The Nifty Bank index also underperformed, declining 0.24% to end at 54,941.30.

After briefly trading in the green during early hours, benchmark indices reversed direction sharply in afternoon trade. The Sensex plummeted over 1,100 points intraday, while the Nifty 50 briefly breached the 24,500 level, rattled by a wave of profit booking and global risk-off cues.