Sensex, Nifty Plunge from Day's Highs: Profit Booking, FII Selling, VIX Rise Cited

• Indian equity benchmarks Sensex and Nifty experienced significant profit booking on January 22, falling from early morning highs despite a global rebound.
• Sensex dropped 500 points and Nifty traded below 25,300 after initially soaring due to US President Donald Trump's softened stance on tariffs.
• Key reasons for the market decline include widespread profit booking, continued selling by Foreign Institutional Investors (FIIs), and a rise in India VIX.
• Heavyweight stocks like HDFC Bank and ICICI Bank, along with Nifty Midcap and Nifty Realty index, contributed to the market's trimmed gains.
• The weekly F&O expiry for Sensex on January 22 also contributed to heightened market volatility and intraday swings.

Why It Matters: Indian markets saw a sharp reversal from day's highs due to profit booking, FII selling, rising volatility, and F&O expiry.