Stories
Market Slump Deepens as Nifty Hits 18-Month Low and AI Stocks Falter
M
Moneycontrol•09-10-2026, 08:38
Market Slump Deepens as Nifty Hits 18-Month Low and AI Stocks Falter
- •D-Street ended Thursday deep in the red with the Nifty falling 1.64 percent to 22,231.80, marking its lowest close in 18 months.
- •Over Rs 10 lakh crore of investor wealth was wiped out amid sustained selling pressure.
- •Crude oil prices surging above USD 100, a weak rupee, and continuous FII selling have heavily weighed on the market.
- •A US Labor Department action on PERM filings of major IT firms has brought the IT sector into sharp focus.
- •Investors are advised to track global cues, pre-market action, and key stocks and sectors amid current market conditions.
Key Questions Answered
The D-Street market ended deep in the red with the Nifty falling 1.64 percent to 22,231.80, driven by crude oil prices above $100, a weak rupee, continuous FII selling, and a recent US Labor Department action on PERM filings affecting major IT firms.
The severe market downturn resulted in over Rs 10 lakh crore of investor wealth being wiped out.
The IT sector came into intense focus following an action by the US Labor Department concerning the PERM filings of major IT companies.
