NEW DELHI:
Equity benchmark
indices,
BSE Sensex
and Nifty50 were
trading
lower in the
opening session
on Thursday. Sensex drops 264.7 points to 72,497.19 in the early trade and Nifty was down 80.2 points to 21,917.50.
Both the
Indian benchmark stock
indices tanked over in trade on Wednesday.
BSE
Sensex, India’s benchmark stock index, experienced a
drop
of 1,100 points, falling below the 73,000 level, while Nifty50 saw a decline below the 22,000 mark.
Sensex closed the day at 72,761.89, down over 900 points or 1.23%, and Nifty50 ended the trading day at 21,997.70, down over 330 points or 1.51%.
The smallcap index recorded a 5% decline, marking its worst single-day fall since December 2022. Midcaps lost 4%, while microcaps and SME stock indices saw a drop of around 6% each.
Wednesday was the worst day for investors since Covid in terms of wealth erosion. At close of session, BSE’s market cap was at Rs 378.7 lakh crore.
The day’s selloff erased Rs 13.9 lakh crore worth of investors’ wealth in terms of loss in BSE’s market capitalisation.
When the Sensex recorded the second biggest loss in market capitalisation, Adani stocks witnessed the group’s biggest single-session wealth erosion of Rs 1.1 lakh crore.