The Indian stock market experienced a significant downturn on Monday, January 19, as investors engaged in widespread profit booking. Weak signals from global markets further fueled the selloff, impacting all major segments.
Benchmarks Tumble Nearly One Percent
Both key indices, the Sensex and the Nifty 50, fell by almost a full percent during the trading session. The Sensex plunged by nearly 700 points, reaching an intraday low of 82,898.31. This represented a decline of approximately 0.80 percent. Similarly, the Nifty 50 dropped to 25,494.35, also falling by close to 0.80 percent.
Heavyweight Stocks Lead the Decline
Major corporate giants acted as the primary drags on the market. Stocks like Reliance Industries, ICICI Bank, and HDFC Bank faced substantial selling pressure. Their recent third-quarter financial results contributed to the negative sentiment among traders.
Broader Market Also Suffers Losses
The selloff was not confined to large-cap stocks. The BSE Midcap and Smallcap indices also declined, with losses reaching up to one percent. This indicates a broad-based retreat across the market spectrum.
Investors Lose Over Two Lakh Crore Rupees
The collective market capitalisation of companies listed on the Bombay Stock Exchange dropped sharply. It fell from nearly ₹468 lakh crore in the previous session to below ₹466 lakh crore. This erosion wiped out more than ₹2 lakh crore in investor wealth within a single day.
The market situation remains fluid, and participants are closely monitoring developments. Further updates will provide clearer insights into the ongoing trends.
