: Indian equity markets witnessed a sharp sell-off on Thursday, the fourth trading session of the week, with benchmark indices Sensex and Nifty declining significantly by the end of the session.

The BSE Sensex closed at 73,580.54, down 1,247 points or 1.67 per cent from its previous close of 74,828. The index opened sharply lower at 74,272 and continued to remain under pressure throughout the trading session.

Similarly, the NSE Nifty 50 opened at 23,221, compared with Wednesday’s close of around 23,446. The index eventually ended at 23,063.10, registering a decline of 283.70 points or around 1.64 per cent.

Investors Lose Over Rs 4 Lakh Crore

The sharp decline in the stock market resulted in a significant erosion of investors’ wealth. The loss can be gauged from the fall in the total market capitalisation of companies listed on the BSE.

The combined market capitalisation of BSE-listed companies stood at around Rs 4,85,01,353.85 crore at the close of the previous trading session. The sharp decline in equity prices on Thursday resulted in investors losing more than Rs 4 lakh crore in market value.

Policybazaar Shares Fall Nearly 36%

Several stocks witnessed steep declines during Thursday’s sell-off. Policybazaar, part of the BSE Midcap segment, was among the biggest losers, with its shares plunging 35.98 per cent.

Other notable declines included MFSL, which fell 9.81 per cent, AU Small Finance Bank, which declined 4.95 per cent, and IDFC First Bank, which dropped 4.70 per cent.

In the BSE Small Cap segment, Ujjivan Small Finance Bank shares fell 5 per cent, while STL Tech declined 4.99 per cent. PNB Housing Finance and Welspun Corp also ended lower by 3.93 per cent and 3.80 per cent, respectively.

Among large-cap stocks, Bajaj Finance declined 5.47 per cent, followed by Axis Bank at 4.87 per cent and Bajaj Finserv at 4.06 per cent. InterGlobe Aviation (IndiGo) fell 2.78 per cent, while Trent declined 2.75 per cent.

Mahindra & Mahindra shares ended 2.31 per cent lower, while Reliance Industries declined 2.25 per cent.

The broad-based selling reflected heightened pressure across several segments of the market, with both benchmark indices ending the session sharply lower.

The post Stock Market Crash: Sensex Plunges 1,247 Points, Nifty Falls 383 Points appeared first on Odisha Connect.