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The Right Mag

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Rs 6.75 trillion lost by investors in One day, as BSE & Nifty dives deep red on 19th May

May 19, 2022

Indian market indexes fell for the second consecutive day on Thursday as investor mood was dampened by concerns about slower economic growth owing to increasing inflation.

Domestic indexes plummeted, matching a dismal trend in Asian markets following Wall Street’s overnight drop, the worst since mid-2020. The focus has been on how central banks would respond in order to recover control of inflation, which has reached 40-year highs in certain nations, without triggering devastating recessions.

The 30-share BSE Sensex down 1,416 points, or 2.61 per cent, to 52,792, while the wider NSE Nifty fell 431 points, or 2.65 per cent, to 15,809. In the broader market, the BSE MidCap index sank 2.6%, while the BSE SmallCap index fell 2.3%. Mid- and small-cap stocks closed down, with the Nifty Midcap 100 down 2.99 percent and the small-cap index down 2.68 percent.

As a result, investors lost Rs 6.75 trillion in a single day as the market capitalization of all businesses listed on the BSE fell from Rs 255.77 trillion to Rs 249.02 trillion.

The National Stock Exchange’s 15 sector indexes all finished in the red. The Nifty IT and Nifty Metal sub-indices lagged the index, falling as high as 5.74 percent and 4.08 percent, respectively. Wipro, HCL Tech, Infosys, TCS, Tech Mahindra, Tata Steel, IndusInd Bank, Kotak Mahindra Bank, M&M, Bajaj Finserv, Bharti Airtel, Titan, ICICI Bank, and Reliance Industries were among the biggest losses on the 30-share BSE index.

Domestic indices tracked dismal global market trends as investors fled riskier assets on concerns that rising inflation would harm corporate profitability and trigger an economic recession.

Global markets have also been impacted by the Russia-Ukraine war and the supply chain problem, which has been exacerbated by China’s zero-covid policy.

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