Investors suffered an enormous loss in the Tuesday trading session on 04 June as a result of a rapid sell-off in the market. Investors’ wealth declined by almost Rs 26 lakh crore (Rs 26 trillion) during intraday trading.
Market cap of Bombay Stock Exchange (BSE) listed companies fell to approximately Rs 426 lakh crore Compared to Rs 400 lakh crore at the end of Monday trading session.
Moreover, the benchmark index, Nifty, clocked its worst session in four years. The 50-stocks index dipped 8.33 per cent or nearly 2,000 points in the afternoon session.
Prior to this, Nifty had its worst session during pandemic on 23 March 2020 when Nifty ended on 7,606 levels with more than 12 per cent dip in a single session.
Furthermore, it should be noted that trading may be halted for 45 minutes if Nifty or Sensex hit a 10 per cent lower circuit before 1 pm. While, if the circuit is achieved between 1 pm to 2:30, trading will be halted for 15 minutes.
Nifty Moves
In the Nifty50 index, 44 stocks were dragged in the red territory with massive fall, while 6 stocks with the mix of Pharma and Auto traded with gains in the afternoon trade.
In the 50-stocks index, Adani stocks tumbled the most among the peers. Adani Ports advanced to lower circuit with more than 19 per cent dip, while Adani Enterprises slumped more than 18 per cent. State-run Coal India, Power Grid, ONGC, SBI and NTPC slipped between 11 to 15 per cent.
Conversely, FMCG stocks, Hindustan Unilever soared more than 5 per cent, while Britannia and Nestle India gained more than 1 per cent. Hero Motocorp also gained 1.4 per cent.
Sectoral Movement
In terms of sectoral performance, Nifty Bank slipped 8 per cent, whereas Nifty PSU Banks plummeted nearly 15 per cent.
Metal also lost more than 10 per cent followed by more than 4 per cent loss in Auto. However, IT, FMCG and Pharma witnessed a comparatively less fall of less than 1 per cent.
The more domestically focussed indices, mid-cap and small-cap shredded more than 7 per cent respectively.
