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Sensex Drops 450 Points From Day's High, Nifty Slips Below 22,950 Amid Profit Booking
M
Moneycontrol•16-10-2026, 09:48
Sensex Drops 450 Points From Day's High, Nifty Slips Below 22,950 Amid Profit Booking
- •Benchmark indices Sensex and Nifty fell from their day's highs to trade in the red on October 16 due to profit booking and other factors.
- •At 9:34 am, the Sensex traded down 240.17 points at 74,075.44, while the Nifty declined 54.1 points to 22,943.25.
- •Profit booking emerged after Sensex and Nifty crossed the key levels of 74,500 and 23,050 following strong gains in the previous session.
- •India VIX, the market volatility gauge, increased by nearly 3 percent to 14.42, signaling potential short-term market weakness.
- •Analysts note that Nifty needs to decisively cross the 23,050 to 23,100 resistance zone to sustain further bullish momentum.
Key Questions Answered
Benchmark indices Sensex and Nifty fell from their day's highs due to several factors, most notably profit booking after crossing the key levels of 74,500 and 23,050 respectively, alongside a rise in the India VIX volatility gauge.
Analysts note that the Nifty needs to decisively cross the 23,050 to 23,100 resistance zone for further bullishness to emerge and extend the pullback towards 23,500 levels.
The India VIX rose nearly 3% to reach 14.42 on October 16, which signals a possibility of short-term weakness in the markets.
