Sensex slumps 984 pts, Nifty ends below 23,600
India’s benchmark equity indices, BSE Sensex and NSE Nifty50, continued their losing streak and ended lower by over 1 per cent each on Wednesday.
Recording a 984.23-point fall (1.25 per cent), the BSE Sensex closed at 77,690.95. Similarly, the NSE Nifty50 settled at 23,559.05, down 324.40 points (1.36 per cent).
From the 30-share Sensex pack, Mahindra & Mahindra, Tata Steel, Adani Ports, JSW Steel, IndusInd Bank, Reliance Industries, HDFC Bank and Kotak Mahindra Bank were the biggest laggards. Tata Motors, NTPC, Hindustan Unilever, Asian Paints and Infosys were the gainers.
According to Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C Mehta Investment Intermediates Limited, Nifty opened on a negative note, witnessed substantial selling pressure and concluded the day on a negative note at 23,559 levels.
The volatility index, India Vix, jumped 5.03 per cent to 15.33, indicating a surge in market volatility.
The broader markets settled in the red, with Nifty Smallcap100 and Nifty Midcap100 falling 2.96 per cent and 2.64 per cent, respectively. Bank Nifty too began on a negative tone, experienced heavy selling pressure and concluded the day on a negative note at 50,088 levels.
Investors lose Rs 13L cr in two days
Equity investors suffered an erosion of Rs 13 lakh crore in market valuation in two days of crash in the BSE Sensex, which fell over 2% in this period.
