Punjab Newsline | New Delhi
The Indian stock market ended sharply lower amid broad-based selling across sectors. The BSE Sensex tumbled 1,092.06 points, or 1.43 percent, to close at 74,775.74. Meanwhile, the NSE Nifty 50 dropped 359.41 points, or 1.50 percent, settling at 23,547.75.
With this decline, the Nifty closed below the key psychological levels of 23,600 and 23,550, indicating weak market sentiment and rising investor caution.
The sharp fall had a significant impact on investor wealth. Due to the heavy sell-off, nearly ₹5 lakh crore was wiped out from the total market capitalization of companies listed on the BSE.
Following the decline, the overall BSE market capitalization slipped to around ₹466 lakh crore.
Several heavyweight stocks came under intense pressure during the session.
Shares of power sector giant Power Grid witnessed strong selling and ended nearly four percent lower. Aviation major IndiGo also remained under pressure, with its stock falling around three percent by the close of trade.
Market experts believe weak global cues, profit booking, and sector-wise selling contributed to the steep decline in equities.
