Indian markets plunged on Tuesday as global funds sold heavily in HDFC Bank Ltd and Reliance Industries Ltd (RIL), and retail investors booked profits in smaller stocks, erasing investor wealth of ₹8.56 trillion. The carnage may not be over, though: The derivatives market and the domestic fear index continue to flash signals of turbulence ahead.
HDFC Bank and RIL, which command the highest weights in benchmark indices and clocked disappointing earnings in the December quarter, contributed to almost half (48.63%) of the Sensex's 1,053.10, or 1.47%, fall to 70,370.55. The Nifty 50 tanked 333 points, or 1.54%, to 21,238.80.
Heavy retail profit-booking in the broader markets dragged down the Nifty Midcap 150 and the Nifty Smallcap 250 indices the most in a month to 17,204.35, down 2.9%, and 14,217.35, down 2.7%, respectively.
The Bank Nifty fell 2.26% to 45,015.05, after disappointing third-quarter results from top lenders.
The crash came a day after India's market capitalization of $4.33 trillion crossed Hong Kong's $4.29 trillion, making it the fourth-largest stock market worldwide.
هذه القصة مأخوذة من طبعة January 24, 2024 من Mint Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة January 24, 2024 من Mint Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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