The Sensex experiences a sharp decline of 931 points following its record high, while the Nifty concludes at 21,150. Explore the primary factors contributing to this market downturn.

 The BSE Sensex 30-share pack witnessed a substantial drop of 931 points, representing a 1.30% decrease, settling at 70,506. Simultaneously, the NSE Nifty index experienced a nearly 303-point decline, equivalent to a 1.41% decrease, concluding at the 21,150 level.

All 15 sector gauges tracked by the NSE concluded in negative territory. Approximately Rs 9 lakh crore of BSE market capitalization (m-cap) was erased. Notably, the Nifty PSU Bank, Nifty Metal, and Nifty Auto sub-indexes underperformed on the NSE platform. The decline in Indian equity benchmarks, following their recent record highs, saw the 30-share BSE Sensex plummet by 931 points (1.30%) to settle at 70,506, while the broader NSE Nifty index dipped by nearly 303 points (1.41%) to close at 21,150. This correction in domestic benchmarks may be attributed to profit-taking at higher levels and a rise in Covid-19 cases in the country.

Earlier in the day, the Sensex surged by 476 points, reaching an all-time high of 71,913, while the Nifty achieved a new record peak of 21,593. However, the substantial decline in the stock indexes occurred during a late-session sell-off. The domestic bourses experienced such a sharp fall that approximately Rs 9 lakh crore of BSE market capitalization (m-cap) was wiped out. Investor wealth, indicated by the BSE m-cap, saw a decline of Rs 9.11 lakh crore, settling at Rs 350.01 lakh crore compared to the previous session's valuation of Rs 359.11 lakh crore.