
Indian equity benchmarks fell sharply on Wednesday amid selloff across all sectors. The 30-pack Sensex was down 931 points or 1.30 per cent to settle at 70,506. The NSE benchmark moved 303 points or 1.41 per cent down to close at 21,150. Pain in the domestic benchmarks intensified in late deals today. Such was the fall in the domestic indices that around Rs 9.1 lakh crore of BSE market capitalisation (m-cap) was wiped out.
Broader markets also came under pressure as BSE mid-cap and small-cap indices turned into the red.
Also read | ONGC, Tata Consumer, Britannia shares among top gainers amid market crash today
Here's a look at today's market fall in numbers:
Rs 9.1 lakh crore investor wealth lost
Investor wealth, as suggested by the BSE m-cap, fell Rs 9.11 lakh crore to Rs 350.01 lakh crore compared with a valuation of Rs 359.11 lakh crore recorded in the previous session. Frontline stocks such as Reliance Industries, L&T, ICICI Bank, Infosys, SBI and NTPC contributed to the fall today.
28 stocks hit 52-week lows on BSE
As many as 28 stocks hit their 52-week lows today. BSE stocks such as Paushak Ltd, Polyplex Corporation Ltd, Primo Chemicals and Shivalik Rasayan hit their respective one-year low levels. That said, 352 stocks touched their one-year high levels today.
3,178 stocks in the red
Out of 3,921 stocks, 3,178 stocks declined and 657 stocks advanced. 86 stocks remained unchanged.
Indiabulls Housing & IOB down up to 11%
Shares of Indiabulls Housing Finance, Indian Overseas Bank, Alok Industries, NBCC, Central Bank of India, Engineers India, UCO Bank, Indus Towers and RCF fell up to 11.06 per cent.
State-owned lenders, metal & auto among top drags
For Sensex, the major culprits that dragged the index lower were Reliance, L&T, Infosys, SBI, ICICI Bank, NTPC, HCL Technologies, M&M and ITC. RIL, L&T and Infy alone contributed negatively to a 244-point decline.
On NSE, all 15 sub-indices settled with cuts. Nifty PSU Bank, Nifty Metal and Nifty Auto fell sharply.
FII-DII data
Foreign institutional investors (FIIs) sold Indian shares on a net basis during the previous session, offloading Rs 601.52 crore, while domestic institutional investors (DIIs) bought shares worth Rs 294.35 crore.
On the global front, most Asian shares traded higher today. Japan's Nikkei index rose 1.37 per cent, South Korea's Kospi index was up 1.78 per cent and Hong Kong's Hang Seng rose 0.66 per cent. However, Shanghai Composite index slipped 1.03 per cent.
Nifty outlook
"Nifty experienced a sharp correction as bearish sentiment persisted. It failed to sustain above 21,500, resulting in increased call writing at the 21,500 strike, subsequently leading to a significant downturn. There might be a consolidation phase for the index in the near term. Resistance is expected around 21,500, while support is anticipated at 21,100," said Rupak De, Senior Technical Analyst at LKP Securities.
Also read | Delta Corp shares fell 35% in 2023; can they touch Rs 200 mark in short term?
Also read | Hot stocks on December 20: Paytm, IREDA, Adani Green Energy, Kalyan Jewellers and more