sensex crash news today: ET Market Watch: Sensex down 4,300 points at close, Nifty down at 21,884 points. Rs 30 Lakh Cr has disappeared from the market.
BSE’s Sensex closed 5.4% lower at 72,079 after falling over 6,000 points during the day, while NSE Nifty closed 5.93% lower at 21,884.
During trading on June 4, around Rs 30 lakh cr disappeared from the market. The market capitalization of all companies listed on the BSE declined to Rs 3.96 lakh crore.
On this day, the index fell by 8.5% and was expected to show the worst market performance since the COVID-19 incident. The Nifty and Sensex surged more than 3% on Monday after exit polls showed the BJP-led alliance was expected to win a two-thirds majority in the House.
At 4:30 PM, (NDA) was leading with 294 seats. At least 232 seats are needed to secure a simple majority in the 543-member House of Representatives.
Following the trend, Adani Group shares closed 10-21% lower. In the Sensex pack, NTPC, SBI, L&T and Power Grid closed 12-15% lower.
Except Nifty FMCG index, all sectoral indices closed in dark red. Nifty Bank was down 8%, Realty was down 9.6%, PSU Bank was down 15%, Oil & Gas was down 11.8% and Metal was down 10.6%. Meanwhile, small-cap and mid-cap stocks closed down 8.2% and 7.9%.
According to Vinod Nair of Geojit Financial Services, “Sectors that have hit record highs over the past five years, including power, capital goods, real estate and industrials, require caution in the near term. The long-term growth prospects for these are as follows: Still solid.”
Global Markets and Rupees
Global stock markets fell on Tuesday. The MSCI All-World index was last down 0.2%.
The Indian rupee plunged on Tuesday. The rupee closed at 83.53 against the US dollar.
