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.
(More to come)
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Updated: 26 Oct 2023, 03:51 PM IST
