Investors lose 9 lakh crore as share markret ends in mayhem; Sensex down by 931 points

Indian stock market experienced a significant selloff, with major benchmarks, the Sensex and Nifty 50, plummeting by over one percent each. The market downturn has raised concerns among investors and analysts alike, highlighting a volatile trading environment.

The BSE Sensex closed the trading session down by 931 points, or 1.15 percent, settling at 80,220.72. Similarly, the Nifty 50 index recorded a decline of 309 points, or 1.25 percent, finishing at 24,472.10. The impact of this selloff was felt particularly in the mid and small-cap segments of the market, which experienced even steeper declines. The BSE Midcap index fell by 2.52 percent, while the Smallcap index saw a staggering crash of 3.81 percent.

This sharp decline resulted in a substantial loss of market capitalization, with the overall market cap of companies listed on the Bombay Stock Exchange (BSE) dropping to approximately ₹444.7 lakh crore from nearly ₹453.7 lakh crore in the previous session. Investors were left poorer by nearly ₹9 lakh crore in just one day, reflecting the adverse impact of the selloff.

Despite the widespread losses, only three stocks managed to close in positive territory within the Nifty 50 index. ICICI Bank led the pack with a modest gain of 0.74 percent, followed by Nestle and Infosys, which saw increases of 0.10 percent and 0.04 percent, respectively. This stark contrast highlights the pervasive negativity in the market.

Sector-wise, the Nifty PSU Bank index experienced the most significant hit, declining by 4.18 percent. Other sectors, including Realty and Metal, also suffered substantial losses, down by 3.38 percent and 3 percent, respectively. Additional declines were noted in Nifty Auto, Media, Consumer Durables, and Oil and Gas, all of which fell over 2 percent each. The Nifty Bank index decreased by 1.36 percent, while the Private Bank index recorded a loss of 0.97 percent.