Sensex plunges 1,100 pts from day's high, Nifty below 22,450. Key factors behind Rs 10 lakh crore wipeout
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Sensex dropped 630 points to trade near 72,600 on Friday morning, falling 1,100 points from the day’s high.
- ✓Nifty fell below 22,450 as investors got spooked by rising oil prices and heavy selling.
- ✓This market crash wiped out Rs 10 lakh crore, as many stocks fell across several major sectors.
Story at a Glance
- Category
- MARKET
- Reported By
- The Economic Times
- Reading Speed
- 4 Minute(s)
- Market Focus
- India Economy
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The Indian stock market fell deeper into the red, with Sensex and Nifty extending sharp losses as soaring oil prices along with other factors that spooked investors.
Sensex dropped around 630 points to trade near 72,600, down more than 1,100 pts day's high, while Nifty 50 plunged around 260 points to drop below 22,450 on Friday morning. The sharp drop wiped off nearly Rs 10 lakh crore from the total market capitalisation of all companies listed on BSE, pulling it down below Rs 4.49 lakh crore.
Tata Steel, Adani Ports, BEL, Titan, NTPC, IndiGo, Bajaj Finserv, Trent, HUL, SBI, Maruti Suzuki and M&M shares fell around 2-4% each to lead losses on Sensex. UltraTech Cement, Power Grid, Tech Mahindra and Kotak Mahindra Bank shares followed, dropping over 1% each.
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The Economic Times
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