Stock market crash: An across-the-board sharp selloff in the Indian stock market sent over 500 stocks to their one-year low levels in intraday trade on the BSE on Monday, January 13, with investors losing nearly ₹13 lakh crore in a single session.
As many as 508 stocks, including Asian Paints, Tata Steel, Bank of Baroda, Canara Bank, Coal India, Hero MotoCorp, YES Bank, Indian Oil Corporation and Tube Investments of India, hit their 52-week lows in intraday trade on BSE.
LIC, MRF, ACC, Astral, Adani Wilmar, Bank of India, BHEL, Central Bank of India, Concor, GMR Airports, IRCTC, IDBI Bank, IDFC First Bank, LIC Housing Finance, NMDC, SAIL, UCO Bank, Union Bank and Sona BLW Precision Forgings were also among the stocks that hit their 52-week lows in intraday trade on the BSE.
The Sensex closed with a hefty loss of 1049 points, or 1.36 per cent, at 76,330.01, with 26 stocks in the red. Shares of Zomato, Power Grid and Adani Ports closed as the top losers in the index, falling 4-7 per cent.
The Nifty 50 ended the day with a loss of 346 points, or 1.47 per cent, at 23,085.95.
The BSE Midcap index lost 4.17 per cent, while the Smallcap index dropped 4.14 per cent. The overall market capitalisation of BSE-listed firms plunged to nearly ₹417 lakh crore from nearly ₹430 lakh crore in the previous session, making investors poorer by about ₹13 lakh crore in a day.
"The global markets witnessed a significant sell-off, prompting a similar response in domestic markets due to strong US payroll data suggesting fewer rate cuts in 2025. This has strengthened the dollar, driven up bond yields, and made emerging markets less attractive," said Vinod Nair, Head of Research at Geojit Financial Services.
"Recent GDP downgrades and slowing earnings amidst higher valuations are weighing heavily on market sentiment. Expect volatility in the near term, with the 2025 budget, Q3 results, RBI policy, and Trump's policies being key factors in defining the trend in the short term," Nair added.
The Sensex and the Nifty 50 extended their losses into the fourth consecutive session. In these four days, the Sensex has declined 2.4 per cent, while the Nifty 50 has retreated 2.6 per cent.
The BSE Midcap index has plunged 8.13 per cent and the Small index cracked 8.6 per cent. Investors have lost almost ₹25 lakh crore in these four days.
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