Share Market Crash: Investors poorer by Rs 8 lakh crore in a day as Sensex tanks 739 pts, Nifty sinks to 24,531 amid broad sell-off; Nifty Metal tumbles 4%
Share Market Crash: Investors suffered steep losses amid an across-the-board sell-off on Dalal Street on Friday. Investors lost about Rs 7,94,059.5 crore in wealth as the market capitalisation of BSE-listed firms slumped to Rs 446.38 lakh crore at the end of the session, according to provisional exchange data. Read on to learn 10 key things about the July 19 session on Dalal Street.
![Share Market Crash: Investors poorer by Rs 8 lakh crore in a day as Sensex tanks 739 pts, Nifty sinks to 24,531 amid broad sell-off; Nifty Metal tumbles 4%](https://cdn.zeebiz.com/sites/default/files/2024/07/19/305756-marketcrashsensexniftypixabay.jpg?im=FitAndFill=(1200,900))
Investors suffered losses to the tune of Rs 7.9 lakh crore amid an across-the-board sell-off on Dalal Street on Friday, in a significant retreat from all-time highs registered in the previous session. The Sensex ended 738.8 points, or 0.9 per cent, lower at 80,604.7 and the Nifty50 settled at 24,530.9, down 270 points, or 1.1 per cent, from its previous close. Investors awaited more of quarterly results from India Inc as well as the much-anticipated first Budget of the Narendra Modi 3.0 government due next week for domestic cues.
Here are key things to know about Friday's market crash on Dalal Street:
- Investors lost about Rs 7,94,059.5 crore in wealth as the market capitalisation of BSE-listed companies slumped to Rs 446.38 lakh crore at the end of the session from Rs 454.33 lakh crore the previous day, according to provisional exchange data.
- Barring Infosys, ITC, Asian Paints and Britannia, whcih rose up to 1.8 per cent, all other stocks in the Nifty50 basket finished the day in red territory.
- Tata Steel, JSW Steel, BPCL, Hindalco, ONGC, Coal India, NTPC, Tata Motors, UltraTech Cement and Wipro - closing between 2.8 per cent and 5.0 per cent lower - were the top losers in the 50-blue-chip pack.
- All sectoral indices finished in the red on both BSE and NSE, with the metal sector being the worst hit.
- Infosys shares eked out an impressive 1.9 per cent rise, shrugging off the market-wide sell-off, after the country's second largest IT firm staged a strong financial performance in the first quarter of the current financial year. The stock gained by Rs 33.7 to end at Rs 1,792.9 apiece on BSE.
- The Bengaluru-based IT giant also revised its revenue growth guidance to 3-4 per cent in constant current for FY25 from 1-3 per cent three months ago.
- LTTS shares managed to end 0.4 per cent higher at Rs 4,864.6 apiece, after the engineering services company reported an 0.8 per cent sequential increase in its net profit to Rs 313.6 crore for the April-June period. Zee Business analysts had pegged L&T Tech Services' June-quarter net profit at Rs 332 crore.
- Tata Technologies shares ended closed 1.2 per cent lower after the Tata group firm reported a weak seat of quarterly numbers.
- Broader indices also took a beating, with the Nifty Midcap 100 and Nifty Smallcap 100 gauges ending 2.1 per cent and 2.2 per cent lower, respectively.
- Overall market breadth was extremely negative with an advance-decline ratio of 1:3 as 906 stocks rose while 3,014 fell at the end of the day on BSE.
Catch highlights of the July 19 session on Dalal Street here. For all other news related to business, market, tech and auto, visit Zeebiz.com.
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