Stock Market Highlights: Investors Lose Rs 12 Lakh Crore As Sensex Slumps Over 1,200 Points, Nifty Tanks 1.6%
All the 12 sectors on the NSE ended lower, with the Nifty PSU Bank declining the most by 4%.
The benchmark indices declined the most since Oct. 3, 2024, ending lower for the second consecutive session on Monday as a broad selloff in Indian equities sparked high volatility and loss of investor confidence.
The NSE Nifty 50 closed 388.70 points or 1.62% down at 23,616.05, the lowest since Dec. 20. The BSE Sensex settled 1,258.12 points or 1.59% lower at 77,964.99, the lowest since Nov. 21
During the session, the Nifty declined as much as 1.89% to 23,551.90, while the Sensex dropped 1.82% to 77,781.62.
The total market capitalisation of the BSE-listed companies declined Rs 12.3 lakh crore to Rs 439 lakh crore. Tata Steel Ltd. and Trent Ltd. were top losers in the Nifty.
"In the near term, we have to watch out for any stability on VIX, interest rates and FII flows," market analyst Hemang Jani told NDTV Profit. "For high beta and interest rate-sensitive pockets like banks and mid-caps, there are risks."
HDFC Bank Ltd., Reliance Industries Ltd., ITC Ltd. and Kotak Mahindra Bank Ltd. weighed on the Nifty the most.
Apollo Hospitals Enterprise Ltd., Titan Co., Tata Consumer Products Ltd. and ICICI Bank Ltd. led the gains in the index.
All the 12 sectors on the National Stock Exchange ended lower, with the Nifty PSU Bank declining the most by 4%.
The broader markets underperformed the benchmark as the BSE MidCap and Smallcap ended 2.44% and 3.17% down respectively.
On the BSE, all the 21 sectors ended lower, with the Utilities declining the most.
The market breadth was skewed in favour of the sellers as 3,476 stocks declined, 652 advanced and 114 remained unchanged on the BSE.
