Why is the market falling today? Sensex falls over 550 points, Nifty below 24,300: Key factors

The Indian stock market fell sharply on Wednesday, with the Sensex dropping over 550 points and Nifty slipping below 24,300, wiping more than Rs 2 lakh crore from the total market capitalisation of BSE-listed companies. The decline was primarily triggered by Tata Sons Chairman N Chandrasekaran's decision not to seek reappointment beyond February 2027, which sent Tata Group stocks tumbling — TCS crashed around 5%, while Titan, Tata Steel, Tata Motors, Tata Consumer and Tata Power fell 1-3%. Rising crude oil prices above $89 per barrel amid US-Iran tensions also weighed on sentiment, though SBI projected a bullish FY27 GDP growth estimate of 8% against the RBI's 6.7%.