Market Crash Wipes Out ₹12 Lakh Crore; Biggest Weekly Loss in Months

Mumbai (The Uttam Hindu)- Indian stock market closed in red on Friday's trading session. Most of the market indexes were in red. At the end of trading, Sensex was down 270.92 points or 0.34 percent at 78,809.65 and Nifty was down 74.05 points or 0.30 percent at 24,426.85.

Along with largecap, midcap and smallcap also saw a decline. Nifty Midcap 100 index was down 320.10 points or 0.57 percent at 55,727.40 and Nifty Smallcap 100 index was down 67.35 points or 0.39 percent at 17,227.00. Most of the market indices closed in the red. Auto, IT, Realty and Oil & Gas indices fell the most. On the other hand, FMCG, Media, Defense and Consumer Durables indices closed in the green.

Biggest fall in stock market in 5 months- 12 lakh crores lost

Last week was very painful for the investors of Indian stock market. Market capitalization was 4,55,41,312.90 crores on 25th August, which came down to 4,43,41,862.39 crores on 29th August. That means in just four trading sessions, investors lost about 11,99,450.51 crores.

ITC, BEL, Trent, L&T, Kotak Mahindra Bank, Asian Paints, UltraTech Cement, Tata Steel, Sun Pharma, HCL Tech, Bharti Airtel and Power Grid were the top gainers in the Sensex pack. M&M, Reliance Industries, Infosys, NTPC, Tata Motors, Tech Mahindra, HDFC Bank and Axis Bank were the top losers. Vinod Nair, Head of Research, Geojit Investments Ltd, said investor sentiment remained cautious amid efforts to understand the full impact of US tariffs. The persistence of the issue is likely to increase the competitiveness of India's exports in future in some sectors. Equity benchmarks performed weak today, especially in the mid-cap and small-cap segments. In contrast, FMCG stocks remained strong on expectations of rationalization of GST rates and strong consumer demand. The Indian stock market had started on a positive note. In early trade, the Nifty 50 index was up 36 points, or 0.15 per cent, at 24,537 and the BSE Sensex was up 118 points, or 0.15 per cent, at 80,199.