7 hrs ago
Indian Selloff Erases ₹9 Lakh Crore, 215 Stocks Hit Lows
India’s stock market had a difficult day on Tuesday, 15 September.
The Sensex and Nifty 50 both fell by more than 1%.
Shares of medium-sized and smaller companies fell even more.
The total value of companies listed on the Bombay Stock Exchange dropped by more than ₹9 lakh crore.
This means investors collectively saw the value of their investments decrease by that amount during the session.
Over 200 stocks reached their lowest prices in a year.
Market analysts said the indexes could fall further if they stay below certain levels.
They also identified price levels that could support a possible recovery.
The Sensex fell 778 points, or 1.04%, to close at 74,003.82 on Tuesday, 15 September.
The Nifty 50 declined 280 points, or 1.19%, to finish at 23,118.60, extending losses to a second session.
The BSE Midcap and Smallcap indexes dropped 2.17% and 2.40%, respectively.
Market capitalization of BSE-listed companies fell by over ₹9 lakh crore to ₹472.4 lakh crore.
A total of 215 stocks reached their 52-week lows, including Reliance Industries, Bank of Baroda and IRCTC.
- Who
- Investors in Indian equities, companies listed on the Bombay Stock Exchange, and market analysts Shrikant Chouhan and Riyank Arora.
- What
- A broad stock-market selloff pushed major indexes lower, erased over ₹9 lakh crore in market value, and sent 215 stocks to 52-week lows.
- Where
- The Indian stock market, including the Bombay Stock Exchange-listed market and the Sensex and Nifty 50 indexes.
- When
- Tuesday, 15 September; the market extended losses from the previous session.
- Why
- The articles describe the decline as a broad, across-segment selloff but do not identify a specific trigger.
Key facts
- Sensex close
- 74,003.82, down 778 points or 1.04%
- Nifty 50 close
- 23,118.60, down 280 points or 1.19%
- Market capitalization
- ₹472.4 lakh crore, down from ₹481.6 lakh crore
- One-day investor loss
- More than ₹9 lakh crore in market capitalization
- Two-session loss
- ₹11.3 lakh crore, compared with ₹483.7 lakh crore on 10 September
- 52-week lows
- 215 stocks reached their 52-week lows
- Mid- and small-cap performance
- BSE Midcap fell 2.17%; BSE Smallcap fell 2.40%
Quotes
Shrikant Chouhan
Head of equity research at Kotak Securities
“On the downside, they could slip to 23,000 and 73,700. Further downward movement may also continue, potentially dragging the index to 22,900-22,850 and 73,500-73,300. On the flip side, above 23,250 and 74,300, the pullback move could extend to 23,400-23,450 and 74,500-74,800.”
livemint.com
Sources
Related news
Indian stock markets recover from lows, end week down 2%
Indian Stocks Fall, Volatility Rises as Sensex, Nifty Extend Losses
Indian Stocks Open Lower Amid Global and Geopolitical Concerns
Seven Indian Stocks Slide to Fresh 52-Week Lows
Indian Market Falls as Profit Booking Pressures Benchmark Indices
Indian Stocks Plunge as Oil, Yields and War Weigh
Saatvik Green Energy Secures ₹1,041.63 Crore SECI Order
NSE IPO Draws Unexpectedly Strong Demand Before September Launch
Jio IPO Could Rank Among India's Biggest Public Offerings
Tata Sons Listing Could Unlock Value for Tata Power
