Banking stocks led the decline, with HDFC Bank emerging as a key drag on the indices. The stock fell over 5% to around Rs 800 after part-time chairman Atanu Chakraborty resigned. Surging crude prices and a hawkish Federal Reserve stance also unsettled the investors.

Sensex tanks 2,500 pts, Nifty ends down 3.3% at 23,000; Rs 12 lakh crore wiped off

HDFC Bank’s newly appointed interim chairman, Keki Mistry, on Thursday reassured investors and stakeholders that the bank remains stable and the board is firmly committed to preserving confidence in the country’s largest private-sector lender.

'No material concerns': New HDFC chairman breaks silence after sudden resignation of Atanu Chakraborty

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Sensex tanks 2,500 pts, Nifty ends down 3.3% at 23,000; Rs 12 lakh crore wiped off

New HDFC chairman breaks silence after sudden resignation of Atanu Chakraborty