Sensex plunges 400 points to 71,023; Nifty drops below 21,500; HDFC Bank in focus

Sensex and Nifty have once again opened in the red on January 18, with Sensex crashing over 400 points to 71,023, while Nifty has also plunged below the 21,500 mark with during the opening bell.

This comes after both Sensex and Nifty saw a major drop on Wednesday, with the stock markets crumbling after the Q3 results of HDFC Bank. Sensex dropped by over 1600 points on Wednesday, while Nifty was down nearly 500 points.

Due to the disappointing quarterly results of HDFC Bank on January 16, Nifty Bank took a harsh hit on Wednesday, dropping over 2000 points in a single session. HDFC Bank was also the top loser on the stock market on January 17.

Analysts and experts said that a dip in the markets was expected soon as markets had exceeded expectations over the last month. The crash in the market was reported after Sensex and Nifty touched their record high at over 73,000 and 22,000 each.