Investors lose Rs 5 lakh crore in market crash: IndusInd Bank, Tata Steel top losers today

Investors lost over Rs 5 lakh crore today as they gauged the impact of rising inflation, below expectations corporate earnings, ongoing Russia- Ukraine war and high inflation in India. Market cap of BSE-listed firms fell by Rs 5.25 lakh crore after investor wealth declined to Rs 241.10 lakh crore against Rs 246.31 lakh crore in the previous session.

Sensex crashed 1,158 points to 52,930 and Nifty slipped 359 points to 15,808 today Sensex and Nifty have fallen for the fifth consecutive session.

NSE VIX, the Indian market's volatility index, rose 6.40 per cent, signaling volatile trade in today's session.

Osho Krishan, senior analyst - Technical & Derivative Research, Angel One, said, "The ongoing rampage is due to the global macro factors, hence any improvement from the overseas market should act as a catalyst for the bulls. Technically, the bearish formation would only get discarded above the mentioned resistance zone. Until that time, one should remain cautious and keep close track of global and domestic developments. Also, traders are advised to avoid aggressive bets and look for stock-specific action, while investors could now seize this opportunity by initiating accumulation in good blue-chip companies but in a staggered manner."

Share Market update: Sensex crashes 1,158 points, Nifty below 15,850; IndusInd falls 6%

Sensex is now down 9.14 per cent or 5323 points and Nifty has plunged 8.91 per cent or 1546 points or 8.91 per cent since the beginning of this year. However, Sensex has gained 8.71 per cent or 4,239 points and Nifty has risen 7.56 per cent or 1111 points in the last one year.

Sahaj Agrawal, Head of Research- Derivatives at Kotak Securities said, "Markets continue to remain under pressure in sync with global markets. For Nifty50, short term sentiment remains weak with resistance placed at 16400 levels - no strong reversal attempt and confirmation is seen yet.  Medium term trend support is placed at 15500 - breach of the same can have significant implications for the short term."

Here's a look at top five Sensex losers in trade today.

IndusInd Bank: The lender was the top Sensex loser, with the stock falling 5.82% to Rs 869.45. The stock opened at Rs 915 against the previous close of Rs 923.30 on BSE.

Tata Steel: The stock closed 4.13 per cent lower at Rs 1118.15on BSE. The large cap stock opened lower at Rs 1157 against the previous close of Rs 1166.30.

Bajaj Finance: The stock fell 3.76 per cent to Rs 5588 against the previous close of Rs 5806. The stock opened at Rs 5764 on BSE.

Bajaj Finserv: The stock fell 3.53 per cent to Rs 12,848.95 against the previous close of Rs 13318 on BSE. The banking stock opened lower at Rs 1,31,90 on BSE.

Axis Bank: Shares of the private lender closed 3.44 per cent lower at Rs 649.35 on BSE. The large cap stock opened lower at Rs 669 against the previous close of Rs 672.45.