Sensex, Nifty down 10% from Sept peak: Is it the right time to invest?
Nifty50 is currently valued at 20.6 times of its trailing 12-month earnings, following recent market corrections.
Nifty50 is currently valued at 20.6 times of its trailing 12-month earnings, following recent market corrections.
The BSE midcap and smallcap indices were the worst hit, while the financials, realty and auto sectors also showed significant weakness.
IT index rises over 1%, led by sectoral heavyweights TCS, HCL Tech, Infosys, and Tech Mahindra.
The BSE Sensex declined 1,492 points, or 1.87%, to hit a low of 78,233, while the NSE Nifty lost 488 points, or 2%, to 23,816 levels.
The m-cap of BSE-listed companies has fallen to ₹461.06 lakh crore, from ₹478.34 lakh crore at the end of trade on September 26, 2024.
On Tuesday, the Nifty50 index managed to extend its winning streak, albeit only by a whisker, settling the session just one point higher at 25,280.
The sentiment was dented by weak U.S. manufacturing PMI data, which triggered sell-off in the global equity market.
The BSE Sensex settled 73 points lower at 80,429 on the Budget day, and the Nifty50 ended at 24,479, down 30 points.
The FM has proposed to increase short term capital gains tax to 20% from current level of 15%, while long term capital gains tax raised to 12.25% from 10% currently.
The top gainers on the BSE Sensex pack were Ultratech Cement, M&M, Bajaj Finserv, L&T, and Bajaj Finance.