D-Street Bloodbath: Sensex plummets nearly 2,600 points amid recession fears in US
The sharp decline reportedly wiped out nearly ₹17 lakh crore from the market capitalization of all listed companies on the Bombay Stock Exchange (BSE).
The sharp decline reportedly wiped out nearly ₹17 lakh crore from the market capitalization of all listed companies on the Bombay Stock Exchange (BSE).
Sensex was down 247.78 points or 0.38% at 65,629.24, and the Nifty was down 46.40 points or 0.24% at 19,624.70.
Equity investors have shed around Rs 2.5 trillion on Monday as the benchmark indices took a deep dive.
PowerGrid was the top loser in the Sensex pack, slumping over 4 per cent, followed by ONGC, IndusInd Bank, Kotak Bank, L&T, Asian Paints and Bajaj Auto.
Selling pressure was witnessed in telecom, finance and banking counters whereas oil and gas were in green.
The market breadth was positive with 1,171 advances and 1,138 declines even though the equity indices traded with a negative bias.
The State Bank of India, ahead of its second quarterly result due on Monday, traded 5.20 per cent higher at Rs 290.65 apiece.
Negative global cues, along with a depreciating domestic currency, pulled the Sensex down 140 points during the afternoon session of the trade on Friday.
Except for IT, oil and gas counters, all the sectors witnessed heavy selling pressure led by banking, finance and healthcare stocks.
Earlier in the day, the Indian rupee slipped to 73.42 per US dollar -- the lowest-ever -- against the greenback at the Inter-Bank Foreign Exchange Market.
