Sensex plummets 1,650 pts, Nifty crashes 2%; what should investors do?
The bankex index dropped over 4%, with index heavyweights HDFC Bank, Kotak Mahindra Bank, Axis Bank falling between 3-8%.
The bankex index dropped over 4%, with index heavyweights HDFC Bank, Kotak Mahindra Bank, Axis Bank falling between 3-8%.
The BSE Sensex and Nifty50 are likely to open lower on Thursday, tracking soft cues from global peers and negative trend at Gift Nifty.
The BSE Sensex crossed the previous all-time high of 63,583, which was hit in December last year, led by index heavyweights, including RIL, HDFC twins, Bharti Airtel, and L&T.
Investors lost nearly ₹4.27 lakh crore in wealth as Sensex and Nifty fell 1.53% each, registering their biggest one-day fall in a month.
The rally on D-street made investors richer by ₹4 lakh crore as market capitalisation of all BSE-listed stocks rose to ₹273.8 lakh crore.
The BSE Sensex has fallen 2,575 points, or 4.3%, in the last four trading days, while the Nifty50 has lost 800 points, or 4.5%, during the same period.
The IT heavyweights have declined up to 45% in the calendar year 2022 amid concerns about earnings in the backdrop of a muted demand environment and higher interest rates.
The Sensex and Nifty are poised to open lower on Monday, in line with Asian peers as interest rate hikes by the global central banks have strengthened fears of recession.
The Sensex and Nifty are poised to drop on Wednesday, following broad losses in Asia and on Wall Street overnight ahead of an expected fed rate hike.
The Sensex and Nifty are poised to open flat to higher on Monday, tracking mixed cues from Asian peers as investors prepare for a rate hike from the U.S. Fed.