Sensex plunges 3%, investors lose Rs 17 lakh crore: Decoding 5 factors behind Indian stock market crash
As of late morning trading, the Sensex plummeted by 2,037 points to 78,944, while the Nifty fell 661 points to 24,056. This drop in equity valuation has led to a staggering loss of Rs 17.03 lakh crore in investor wealth, reducing the total market capitalization from Rs 457.16 lakh crore to Rs 440.13 lakh crore.
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FollowIn a dramatic turn of events, Indian stock markets continued their downward trajectory for the second consecutive session on Monday (August 5), mirroring the turmoil seen in global markets amid recession fears in the US economy. This latest downturn has significantly impacted investor wealth and caused substantial declines in major indices.
Market decline in numbers:
As of late morning trading, the Sensex plummeted by 2,037 points to 78,944, while the Nifty fell 661 points to 24,056. This drop in equity valuation has led to a staggering loss of Rs 17.03 lakh crore in investor wealth, reducing the total market capitalization from Rs 457.16 lakh crore to Rs 440.13 lakh crore.
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Top losers and sector performance:
The market slump has particularly affected key stocks. Tata Motors, Adani Ports, M&M, SBI, JSW Steel, and Titan experienced declines of up to 5.04%. Out of the 30 Sensex stocks, 28 were trading in the red, reflecting broad-based losses.
Detailed market metrics:
Nifty stocks: Out of the 50 Nifty stocks, 46 were trading in the red. Tata Motors, Hindalco, ONGC, Shriram Finance, and JSW Steel were among the top losers, with declines of up to 4.37%.
52-week highs and lows: Despite the overall market decline, 88 stocks hit their 52-week highs on the BSE today. Conversely, 42 stocks reached their 52-week lows.
Market breadth: Of the 3,421 stocks traded, 394 were in positive territory, while 2,891 were trading in the red, and 136 remained unchanged.
Circuit limits: In early morning trading, 103 stocks hit their upper circuit limits, while 197 stocks reached their lower circuit limits, indicating a severe sell-off.
Foreign and domestic investor activity:
Foreign institutional investors (FIIs) contributed to the market’s woes, selling equities worth Rs 3,310 crore on a net basis on Friday. In contrast, domestic investors bought shares worth Rs 2,965.94 crore, according to provisional NSE data.
Previous trading session:
In the previous trading session, the Nifty ended 293 points lower at 24,717, and the Sensex lost 886 points to close at 80,982.
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