Mumbai: On Wednesday, March 13, 2024, investors were dealt a severe blow as the stock market experienced a significant downturn. The Sensex plummeted by 1109 points to 72,558 during the afternoon session, witnessing a notable sell-off in the mid-cap and small-cap segments.
Similarly, the Nifty faced a substantial decline, shedding 422 points to 21,913, wiping out earlier gains and reflecting the prevailing pessimism among investors on Dalal Street.
This market slump led to massive losses for investors, totalling a staggering Rs 14 lakh crore. Consequently, the total investor wealth shrunk to Rs 371.69 lakh crore from the previous session’s valuation of Rs 385.64 lakh crore.
Stocks such as PowerGrid, NTPC, Tata Steel, Bharti Airtel, Titan Company and Tata Motors emerged as prominent contributors to the losses observed on the Sensex.
Reflecting the widespread negative sentiment, a total of 223 stocks hit their 52-week lows, while only 89 shares managed to reach their 52-week highs on the BSE.
Market breadth remained overwhelmingly negative, with only 351 out of 3,926 stocks trading in the green zone. A vast majority of 3,526 stocks were trading in the red, with 66 stocks remaining unchanged.
All 19 sectoral indices on the BSE recorded losses, with sectors like oil and gas, metals, consumer durables, and capital goods witnessing significant declines.
The BSE auto index also recorded a substantial drop of 1108 points, reaching 46,839 amid the market downturn.
During the market slump, 1013 stocks hit their lower circuit limits, while 125 shares managed to defy this trend and hit their upper circuit limits on the BSE.
In addition, the mid-cap and small-cap indices experienced notable declines, with the BSE mid-cap index falling by 1602 points to 37,635, and the small-cap index slipping by 2079 points to 40,752, indicating weakness in broader market sentiment.
In terms of FII-DII data, foreign institutional investors bought equities worth Rs 73.12 crore on a net basis on Tuesday, while domestic investors purchased shares amounting to Rs 2358.18 crore, as per provisional NSE data.
Did you know The Theorist also has a WhatsApp channel? Click here to follow us on WhatsApp
Read all the World News, Business News, Sports News, Entertainment News, Business News and Opinion here. Follow us on Facebook, Twitter and Instagram
