- Nifty 50 has dropped 3,000 points from its January 2 all-time high of 26,328.55
- The BSE Sensex has fallen nearly 10,700 points from its peak of 85,762 in the same period.
- The market cap in this period has declined by over Rs 24 lakh crore amid multiple headwinds.
The blue-chip Nifty 50 index is down 3,000 points from its all-time high of 26,328.55 on Jan 2, marking one of the worst starts to a year for Indian stock markets. As per an NDTV Profit calculation, this has led to an erosion of over Rs 24 lakh crore in market capitalisation. During the same phase, the 30-stock BSE Sensex is down nearly 10,700 points from the high of 85,762 hit on the same day.
Dalal Street has been marred by a flurry of negatives, starting with uncertainity over a India-United States trade deal heading into the new year, the American raid on Venezuela's top leader, a budget proposal to raise taxes on derivatives trading, the launch of advanced artificial intelligence tools from Anthropic that spooked software exporters, and the outbreak of Iran war.
On the Nifty, HDFC Bank Ltd., Reliance Industries Ltd., Infosys Ltd., Tata Consultancy Services Ltd. and Bharti Airtel Ltd. contributed nearly half of the fall in points.
In terms of percentage, IndiGo airline operator InterGlobe Aviation Ltd., Mahindra & Mahindra Ltd., and Jio Financial Services Ltd. were the top losers in this period.
Notably, public sector companies (PSUs) have been in the green. State Bank of India, NTPC Ltd., Oil and Natural Gas Corp., Coal India Ltd. and Power Grid Corp. have been some of the best performers on the Nifty.
Only 13 out of the 50 blue-chip companies on the index were in green since the start of the year.
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