Indian stocks plunged sharply in mid-session trade Thursday, May 22, as a mix of negative global cues, stretched valuations, and disappointing earnings weighed on sentiment. During the trading session, the benchmark Sensex plunged nearly 900 points intraday to 80,710.22—its lowest level since May 12. Meanwhile, the Nifty 50 traded below the important 24,550 mark, eroding gains from the previous day.Â
At 12:20 PM, the Sensex fell 857 points, or 1.05 per cent, at 80,739, and the Nifty 50 fell 255 points, or 1.03 per cent, to 24,558. In the broader market, the BSE Midcap index fell 0.39 per cent, but the Smallcap index added 0.15 per cent.
