Sensex Crashes 700 Points, Investors Wipe Out Rs 3.5 Lakh Crore in Single Day

Mumbai (The Uttam Hindu): On the last trading day of the week, i.e. Friday, heavy selling pressure was seen in the Indian stock market. The market's major index Sensex recorded a massive fall of about 700 points, while Nifty 50 also fell below the important level of 25,150. Due to this all-round decline, investors suffered a huge loss of more than Rs 3.5 lakh crore in a single day.

The 30-share Sensex of the Bombay Stock Exchange (BSE) closed at 82,500.47 with a fall of 690 points (0.83%). At the same time, the Nifty of the National Stock Exchange (NSE) fell by 50, 205 points (0.81%) to 25,149.85. The decline in the market was so sharp that the total market cap of the companies listed on the BSE fell to Rs 464.95 lakh crore, which was Rs 468.51 lakh crore on Thursday.

In today's trading, while buying was seen in the shares of FMCG and pharma sector, there was heavy pressure in the auto and IT sectors. The Nifty auto index fell by 2%, while there was heavy selling in IT stocks as well.

If we talk about the 30 companies of Sensex, then Hindustan Unilever (HUL) stock closed with a great gain of about 5% against the market movement. Apart from this, the shares of Axis Bank and Sun Pharma also managed to close in the green mark.

On the other hand, the biggest sellers were seen in the shares of Tata Group giants TCS and Mahindra & Mahindra (M&M). TCS stock fell by a huge 3.46% to close at Rs 3265.40, which further worsened the market sentiment.