On the other hand, the NSE index dropped to 21,573 points at closure. This is the biggest crash that NSE Nifty has experiences since July 2022, dropping significantly below its all-time high from earlier this week.

Sensex and Nifty touched their lifetime high earlier this week, with the former crossing the 73,000 mark and the latter crossing the 22,300 mark. However, the bloated indexes experienced a major crash after a continuous five-day rally on the Indian markets.

Sensex on Wednesday was down around 1300 points during the opening bell, and tumbled by a total of 1638 points at 3:30 pm, standing at 71,511. Meanwhile, Nifty was down by 460 points on January 17, standing at 21,573 at closing bell.

Nifty Bank also took suffered a major decline today, down by 2060 points closing at 46,064 points on Wednesday. Nifty Bank was the sector experiencing the worst decline today, with BSE Sensex coming in second.