Share market fell sharply with BSE Sensex closing about 850 points down from the day’s high and NSE Nifty ending below the 23,650 mark.Both indices slipped over 1 per cent from their intraday highs. At close, Sensex was down 450 points or 0.6 per cent from the previous close, at 78,248 while the Nifty dropped 168 points or 0.7 per cent to 23,645.

Market reflected broad-based selling pressure as foreign institutional investor (FII) outflows, global cues, and a weakening rupee weighed on investor sentiment.

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On Nifty, the top gainers were Adani Enterprises (7.32 per cent), HCL Technologies (1.35 per cent), Tech Mahindra (1.28 per cent), Cipla (1.09 per cent), and Sun Pharmaceutical Industries (1.02 per cent). On the losing side were Hindalco Industries (2.66 per cent), Bharat Electronics (2.29 per cent), Trent (2.13 per cent), Tata Motors (1.83 per cent), and Bajaj Auto (1.75 per cent).

Most of the sectoral indices ended in red while the Nifty Pharma index was the top sectoral gainer, up 1 per cent. Consumer Durable, FMCG and IT index ended mildly positive, and Nifty Auto index led the losses, down 1.4 per cent.

Nifty Bank index was down 0.7 per cent which led the intraday recovery earlier; energy, infrastructure and metals indices fell 0.5-1.5 per cent each.The BSE Midcap index climbed 0.13 per cent, but the Smallcap index fell 0.47 per cent. Volatility rose during the session, with the India VIX closing up 5.5 per cent at 13.97.

Among the individual performers, Adani Enterprises shares were on fire, surging 7 per cent to emerge as the top gainer on the list of Nifty 50 stocks. That of Vodafone Idea rose over 5 per cent as government waived bank guarantees for past spectrum auctions.

Utkarsh Small Finance Bank surged as much as 3 per cent after it revealed plans to sell off Rs 355 crore worth of non-performing microfinance loans to asset reconstruction companies. Suzlon Energy stock prices tumbled, despite an announcement of an income tax refund that is worth Rs 173 crore.

Investors are holding their bets for riskier equities amid prevailing uncertainty surrounding Donald Trump’s tariff policies.