On Thursday, equity indices had their biggest single-day drop since April!
There was a huge drop in the market reduced investors‘ wealth by Rs 4.82 lakh crore, with the BSE Sensex plunging over 1,150 points. The 30-stock index dropped 1.89 per cent, to 59,984.70. It fell 2.23 per cent, to 59,777.58 during the day.
This was the largest decrease since April 12 of this year, when it fell 1,708 points!
Heavy Loss For BSE-listed Companies!
With the market value of all BSE-listed businesses at Rs 2,60,48,949.80 crore, investors lost Rs 4.82 lakh crore.
“Bears continued to dominate domestic indices tracking cues from weak Asian and European markets ahead of a policy update from the European Central Bank. Globally investors are on the edge awaiting the US GDP data releasing later in the day along with the outcome of the Fed meeting scheduled for next week”
“Domestic markets witnessed broad-based selling dragged by banking, metal and realty stocks,”
Vinod Nair, Head of Research at Geojit Financial Services.
Major Gainers And Losers In The Stock Market
ITC, ICICI Bank, Kota Bank, Axis Bank, SBI, HDFC, and Titan were among the top losers in the Sensex pack, with their shares tumbling as much as 5.54 per cent.
The main gainers were IndusInd Bank, L&T, Ultra Cemco, and Asian Paints, which rose to 2.94 per cent.
“Relentless selling by FIIs over last two weeks has led to weakness in the market. Further mixed earnings season along with premium valuations also exerted pressure in the market as there is little room for disappointment,”
Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.
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