PTI
Mumbai, December 23
The Sensex plunged 981 points to end below the 60,000-mark following across-the-board selling on Friday, marking its fourth straight day of losses during which investors have lost over Rs 15 lakh crore.
Rs 15.78 lakh cr lost in four sessions
- Barring Titan, all Sensex stocks closed in the red, led by Tata Steel (down nearly 5%), Tata Motors, SBI, Bajaj Finserv, Reliance Industries, Wipro, IndusInd Bank, Maruti Suzuki and L&T
- Investors have now lost Rs 15.78 lakh crore in four sessions
Surging Covid cases in China and a few other nations have fanned fears of another global pandemic wave, while stronger US growth data has cemented expectations of the Federal Reserve continuing with its hawkish stance, experts said.
The Sensex slumped 980.93 points to settle at 59,845.29 — closing below the psychologically key 60,000-mark after October 28 this year. On similar lines, the Nifty fell 320.55 points to end at 17,806.80.
Barring Titan, all Sensex stocks closed in the red, led by Tata Steel (down nearly 5 per cent), Tata Motors, SBI, Bajaj Finserv, Reliance Industries, Wipro, IndusInd Bank, Maruti Suzuki and L&T.
Investors have now lost Rs 15.78 lakh crore in four sessions, with the market capitalisation of BSE-listed companies standing at Rs 2,72,12,860.03 crore.
“Markets were caught in frenzied selling as weak global cues and bearish external factors pushed both the key benchmark indices below the psychological levels.
“Besides spurt in Covid cases in China and Japan, the better-than-expected US Q3 GDP numbers further raised concerns that the Fed will go for more rate hikes to tame inflation, which further accentuated selling pressure in the markets,” said Amol Athawale, deputy vice-president — Technical Research at Kotak Securities Ltd. On a weekly basis, the Sensex has tumbled 1,492.52 points while the Nifty tanked 462.20 points.
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