Market ends with deep cuts; investors lose about ₹3 lakh crore in a day

The domestic market continued reeling under selling pressure on Thursday, October 26, as the key indices the Sensex and the Nifty 50 suffered losses for the sixth consecutive session.

In the last six sessions of losses, benchmarks the Nifty 50 and the Sensex are down about 5 per cent each. The overall market capitalisation of the firms listed on the BSE has fallen to nearly 306.3 lakh crore from 323.8 lakh crore on Tuesday, October 17, making investors poorer by about 17.5 lakh crore in six sessions. On Thursday alone, investors lost about 3 lakh crore. 

There are multiple headwinds that are keeping the market down. While inflation, higher interest rates and the possibility of a recession are the persisting concerns, the Israel-Hamas conflict is also adding to the uncertainty.

Also, foreign institutional investors (FIIs) are selling Indian equities amid rising US bond yields and the strength of the dollar index. These combined factors are weighing on market sentiment.

Nifty 50 today closed with a hefty loss of 1.39 per cent, or 265 points, at 18,857.25 while the Sensex closed at 63,148.15, down 901 points, or 1.41 per cent.

Also Read: Nifty 50 sees significant correction in October; should you chase value or growth stocks in this market?


(More to come)

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Updated: 26 Oct 2023, 03:51 PM IST

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