Sensex falls 850 points: Why is Indian stock market down today?

The BSE Sensex dropped over 800 points, hitting an intraday low of 81,250, while the NSE Nifty50 fell below the 24,700 level, indicating widespread selling across various sectors.

Seven of the 13 major sectors were lower, with information technology and metal stocks leading the gainers. The broader small-caps were up 0.3%, while the mid-caps were down 0.1%.

"The market is waiting for the next major trigger. It could be an India-US trade deal. It needs to be seen when it is announced," news agency Reuters quoted Dharmesh Kant, head of equity research at Cholamandalam Securities, as saying.