Indian stock markets opened higher with the Nifty index surpassing 22,500, led by gains in Bharti Airtel. However, the market experienced volatility, with the Sensex initially up by 250 points before tumbling 450 points to close at 73,829, while the Nifty slipped 73 points to finish at 22,397. The Nifty IT index, heavily impacted by fears of a U.S. recession, fell into bear market territory, declining 21% from its peak and erasing ₹8.4 lakh crore in market capitalization. Major IT stocks such as Infosys and TCS faced significant losses, with the Nifty IT index dropping over 3% in intra-day trading. IndusInd Bank's shares saw a recovery of nearly 5% after a 27% crash attributed to an accounting discrepancy of ₹2,100 crore, which has led to additional scrutiny from the National Stock Exchange (NSE). The bank's market capitalization fell by ₹19,000 crore, prompting brokerages to cut target prices, with CLSA lowering its target from ₹1,200 to ₹900. Despite the overall market downturn, select sectors like banking, auto, and FMCG showed resilience, with the Nifty PSU Bank index emerging as a top gainer.