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Investors lose Rs 5 lakh crore in market crash: Here's a look at top losers today

Investors lose Rs 5 lakh crore in market crash: Here's a look at top losers today

Sensex and Nifty have fallen for the fourth consecutive session today as the ongoing Russia-Ukraine conflict entered its 11th day.

Market cap of BSE-listed firms fell by Rs 5.63 lakh crore after investor wealth declined to Rs 241.10 lakh crore against Rs 246.73 lakh crore in the previous session. Market cap of BSE-listed firms fell by Rs 5.63 lakh crore after investor wealth declined to Rs 241.10 lakh crore against Rs 246.73 lakh crore in the previous session.

Investors lost over Rs 5 lakh crore on BSE today as investors gauged the impact of rising oil prices on global markets. Market cap of BSE-listed firms fell by Rs 5.63 lakh crore after investor wealth declined to Rs 241.10 lakh crore against Rs 246.73 lakh crore in the previous session.

Sensex fell 1,491 points to 52,842 and Nifty slipped 382 points to 15,863.

Sensex and Nifty have fallen for the fourth consecutive session today as the ongoing Russia-Ukraine conflict entered its 11th day.

Brent crude prices hit a fresh high of $139.13 per barrel as West was considering sanctions over oil and gas exports from Russia. NSE VIX, the market's volatility index, rose 4.90% to 29.33, signalling high volatility in trade today.

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Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities said, "Bears remained in the thick of action and benchmark indices slumped below their psychological levels on across-the-board selling. The world is hoping for a solution to the Russia-Ukraine conflict, but more than that it's impact on surging crude oil and other commodity prices is hurting the sentiment.

The consequences will be bigger as a prolonged war will hurt the growth prospects and push up inflation. Technically, after a meaningful price correction, Nifty has formed a Hammer candlestick formation which is broadly positive. In addition, the momentum indicators are also indicating a strong possibility of a quick pull back rally, if the Nifty succeeds to trade above 16000. Above the same, the index could rally up to 16200-16300 levels. On the flip side, 15700 would be the immediate support zone, and below the same the chances of hitting 15600 and 15550 remains bright."

Sensex is now down 9.29% or 5411 points and Nifty has plunged 8.59% or 1490 points since the beginning of this year. However, Sensex has gained 4.84% or 2437 points and Nifty has risen 6.19% or 925 points in the last one year.

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 7.63% to Rs 834.10. The stock opened at Rs 875 against the previous close of Rs 903 on BSE.

Axis Bank: The banking stock closed 6.70% lower at Rs 667.25 on BSE. The large cap stock opened lower at Rs 695.90 against the previous close of Rs 715.15.

Maruti Suzuki: The auto stock ended 6.56% lower at Rs 6,769 against the previous close of Rs 7244.35. The large cap stock opened at  Rs 7040 on BSE.

Bajaj Finance: The stock fell 6.37% to Rs 6,122 against the previous close of Rs 6539. The stock opened at  Rs 6380 on BSE.

Bajaj Finserv: The stock fell 6.27% to Rs 14,368 against the previous close of Rs 15,329 on BSE. The banking stock opened lower at Rs 15,102 on BSE.

Published on: Mar 07, 2022, 5:03 PM IST
Posted by: Aseem Thapliyal, Mar 07, 2022, 4:58 PM IST