Why market is down today

Market Meltdown: Sensex and Nifty Plunge, Investors Panic

Sensex and Nifty witness their biggest single-day percentage loss since June 2022, causing a frenzy among investors. Find out the top reasons behind the market crash here!

The Indian stock market faced a severe downturn as the Nifty 50 and Sensex plummeted over 2% on Wednesday, resulting in the largest single-day percentage loss since June 2022. The market turmoil saw Sensex shedding a staggering 1600 points, sending shockwaves through investors. Among the top losers were HDFC Bank, Tata Steel, Kotak Mahindra Bank, Axis Bank, and Hindalco Industries, while HCL Technologies emerged as one of the few gainers amidst the chaos.

As the Sensex crashed over 1600 points, investors witnessed a massive loss of approximately Rs 4.7 lakh crore in wealth. The day marked a grim milestone with 15 stocks hitting their 52-week lows, including Radiant Cash Management Services and Sanmit Infra. The selloff continued as the market struggled to recover from the fallout of HDFC Bank's disappointing Q3 results, leading to a bloodbath on Dalal Street.

The market's downward spiral continued as the Sensex plunged over 1000 points, further intensifying the panic among investors. The Nifty50 also saw a significant decline of 294.40 points, exacerbating the financial distress on Dalal Street. The market capitalisation of listed companies on the BSE witnessed a sharp decline of Rs 4.53 lakh crore, underscoring the magnitude of the crisis.

In a tumultuous day for the Indian markets, the Sensex and Nifty experienced their most significant falls in two years, reflecting the widespread impact of the market crash. Investors are now on edge, closely monitoring the evolving situation to navigate through the financial turmoil.