Bear attack: Rs 6 lakh cr gone as Sensex, Nifty react to US Fed rate cut

Sensex tanked over 1,100 pts in early deals on Thursday after US Federal Bank said it would be cautious about further rate cuts. The stance came even as the central bank cut the interest rate by 25 basis points for the third straight time which was already priced in by global markets.

Investor wealth declined by Rs 6.57 lakh crore to Rs 446.03 lakh crore today compared with a valuation of Rs 452.60 lakh crore recorded in the previous session. Sensex fell 1162 pts to 79,020 and Nifty slipped 259 pts to 23,944, mirroring weakness in global markets.

Here's a look at today's market crash in numbers:

Top losers 

Stocks such as Asian Paints, M&M, Tata Steel, Bajaj Finserv, Infosys, IndusInd Bank, HDFC Bank, and Tech Mahindra led the losers on Sensex, falling up to 2.09% in early deals. All Sensex  stocks were trading in the red.

45 stocks hit 52-week low 

Amid weakness in market, as many as 79 stocks hit their 52-week highs today. On the other hand, 45 shares fell to their 52-week lows on BSE today.

Market breadth in red

Out of 3,342 stocks traded, 970 stocks were trading in the green on BSE. Around 2,263 stocks were trading in the red while 109 stocks remained unchanged.

Lower circuits, Upper circuits

Around 98 stocks hit their lower circuits as the stock market tanked in early morning session. On the other hand, 99 shares hit their upper circuit limits, amid weak sentiment on BSE.

Midcap, smallcap indices tumble

BSE midcap index tanked 298 pts to 47,226, indicating weakness in the broader market. The BSE small cap stock index also fell 332 pts to 56,164 level.

FII-DII selloff 

Foreign institutional investors sold Rs 1316.81 crore worth of equities on a net basis on Wednesday, while domestic investors bought Rs 4,084.08 crore of shares, as per provisional NSE data.

Previous session

Sensex and Nifty ended on lower for third  straight session on Wednesday. Sensex slipped 502 points, or 0.62% at 80,182 and Nifty50 declined 137 points, or 0.56%, to end at 24,198.95.