Sensex dives over 500 points: Rs 1.25L cr investor wealth lost; KRBL, Rhi Magnesita & Campus Activewear down up to 9%

Indian equity benchmarks fell sharply in afternoon deals on Wednesday, dragged by banks, financials, consumer goods, metals and energy stocks. The BSE Sensex slumped over 500 points while the NSE barometer Nifty hit the sub-18,500 level. At 12:13 pm, the 30-pack Sensex was down 510 points or 0.81 per cent at 62,459. The NSE benchmark was down 134 points or 0.72 per cent at 18,499. Such was the fall in the domestic indices that around Rs 1.25 lakh crore of BSE market capitalisation (m-cap) was wiped out. The domestic benchmarks cracked today due to profit booking, halting their four-day winning run.

Investors also await India's GDP data for the fourth quarter (Q4 FY23), scheduled to be released post-market hours today.

Here's a look at today's market fall in numbers:

Rs 1.25 lakh crore investor wealth lost

Investor wealth, as suggested by the BSE m-cap, fell Rs 1.25 lakh crore to Rs 282.64 lakh crore compared with a valuation of Rs 283.88 lakh crore recorded in the previous session. Frontline stocks such as Reliance Industries, HDFC twins (HDFC and HDFC Bank), ITC, ICICI Bank, Axis Bank, SBI, M&M, NTPC and Bajaj Finance contributed to the fall today.

Watch: Stocks buzzing on May 31, 2023: KRBL, Torrent Pharma, Tata Motors, Mazagon Dock, others

33 stocks hit 52-week lows on BSE

As many as 33 stocks hit their 52-week lows today. BSE all-cap stocks such as Bajaj Healthcare, Cerebra Integrated Technologies and GRM Overseas hit their respective one-year low levels. That said, 133 stocks touched their one-year high levels today.

1,851 stocks in the red

Out of 3,475 stocks, 1,851 stocks were seen declining. Only 1,510 stocks were advancing, while 135 stocks remained unchanged.

KRBL & Rhi Magnesita India down up to 9%

Shares of KRBL, Rhi Magnesita India and Campus Activewear fell up to 9.19 per cent in afternoon deals today. Also, five out of 10 listed Adani Group stocks traded lower in afternoon deals today. NDTV, Adani Total Gas, Adani Transmission, Adani Green Energy and Ambuja Cement slipped up to 4.33 per cent.

Watch: Adani Ports share price may rally up to 42%; Should you buy? See what analysts say

Banks & financials among top drags

For Sensex, the major culprits that dragged the index lower were Reliance, HDFC duo, ITC, Axis Bank, ICICI Bank and SBI. RIL, HDFC twins and ITC alone contributed negatively to around a 320-point decline.

On NSE, 11 out of 15 sub-indices were down. Nifty Bank, Nifty Nifty Financial Services, Nifty Metal and Nifty Oil & Gas fell sharply.

FII-DII data

Foreign institutional investors bought Rs 2,085.62 crore worth of equities on a net basis on Tuesday, while domestic investors sold about Rs 438.93 crore worth of shares, as per provisional NSE data.

On the global front, Asian markets were last seen trading lower. Japan's Nikkei index fell 1.41 per cent, South Korea's Kospi index was down 0.32 per cent, Hong Kong's Hang Seng tanked 2.50 per cent and Shanghai Composite index slipped 0.66 per cent. Further, US stock futures indicated a negative start for Wall Street later in the day.

Watch: Time Travel with IRCTC: A journey of its origin in 1999 to its share market debut, stock split, and more