Sensex Crashes 863 Points, Nifty Slips Below 22,300: Why Did Investors Lose Nearly ₹7.69 Lakh Crore In Hours?
Mumbai: Indian stock markets witnessed heavy selling on Thursday, with the Sensex plunging 863.09 points and the Nifty falling nearly 310 points by afternoon. Rising crude oil prices, weak global markets and continued foreign investor selling weighed on sentiment. At 12:44 pm, the Sensex stood at 71,775.62, down 1.19 per cent. The Nifty traded at 22,293.10 at 12:45 pm, declining 1.37 per cent.…
The BSE Sensex and Nifty50, India's top stock market indices, experienced a significant decline on Thursday, with losses of around 1%. The reasons behind this market rout included the Reserve Bank of India's recent decision to tighten monetary policy and raise the repo rate, continued Foreign Institutional Investor (FII) selling, and other negative factors.
The BSE Sensex fell over 900 points, while the NSE Nifty50 slipped below the 22,300 mark. The sharp decline erased nearly Rs 8.5 lakh crore from the combined market capitalisation of listed companies on the BSE. Leading losers among the Sensex constituents were ITC, Adani Ports, IndiGo, Power Grid, and Reliance Industries, with shares plunging by up to 4%.
Conversely, Titan and major IT stocks like Tech Mahindra, HCL Technologies, TCS, and Infosys gained 2% each, providing some relief to the benchmark index.
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- Sensex tanks over 850 points, Rs 8.5 lakh crore wiped out: Top reasons behind market rout timesofindia.indiatimes.com
