Indian Markets Plunge: Sensex, Nifty Close Lower, VIX Jumps Over 8%

• Indian equity benchmark indices BSE Sensex and NSE Nifty closed lower on Wednesday (January 21), with broad-based selling pressure.
• Volatility surged as India VIX jumped over 8%, and the Midcap Index saw a nearly 1,500-point swing.
• Sensex fell 271 points to 81,910, and Nifty declined 75 points to 25,158, with broader markets underperforming.
• Top losers included Tata Consumer Products, Trent, ICICI Bank, and Bharat Electronics; Tata Communications dropped 8% post-Q3 results.
• The rupee hit a record low of 91.72 against the dollar, falling nearly 1.5% in five trading sessions, adding to market unease.

Why It Matters: Indian stock markets experienced a significant downturn, driven by broad selling, increased volatility, and a weakening rupee.