Black Monday: Stock market crashed, investors lost Rs 5.47 lakh crore
Black Monday: During early trading on Monday, the BSE Sensex fell 1568.02 points and came down to the level of 52734.98. On Monday, investors have lost Rs 5.47 lakh crore in the opening trade. Investors are deeply troubled by the continuous decline of the stock market.
The Indian stock markets have been witnessing a decline in the last few weeks. Foreign institutional investors are continuously withdrawing their money from the Indian capital market. During early trading on Monday, the BSE Sensex fell 1568.02 points and came down to the level of 52734.98. On Monday, the Sensex saw a fall of more than 1,500 points, which has a massive impact on the market. Wealth of equity investors weakened by over Rs 5.47 lakh crore in early trade on Monday due to weak market trend. This has cost investors a lot.
The 30-share BSE benchmark ended 1,568.46 points lower at 52,734.98 in early trade. The broader NSE Nifty fell 451.9 points to 15,749.90. Market capitalization of companies listed on BSE declined by Rs 5,47,410.81 crore to Rs 2,46,36,948.05 crore in morning trade, in line with a weak trend in equities.
At the same time, a sell-off is being witnessed in equity markets across the world as the Nifty open gap down, as US May inflation figures hit a four-decade high, which has prompted the US Fed at the upcoming monetary policy meeting to be held this Wednesday. raised concerns about aggressive rate hikes by
Hemang Jani, Head Equity Strategy, Motilal Oswal Financial Services, said that India's inflation data at the domestic level is due on Monday, which may see panic in the market. Bajaj Finserv, Bajaj Finance, ICICI Bank, IndusInd Bank, Kotak Mahindra Bank and HDFC were among the major losers in the Sensex pack. In Asia, the markets of Seoul, Tokyo, Hong Kong and Shanghai were trading with deep cuts.
Stock exchanges in the US closed with a sharp fall on Friday. Foreign institutional investors (FIIs) remained net sellers in the capital market as they sold shares worth Rs 3,973.95 crore on Friday, according to exchange data.