Sensex crashes over 1,600 points: Rs 4.7L cr investor wealth lost; HDFC Bank, IEX, Zomato down up to 7%

Indian equity benchmarks fell sharply in Wednesday's trade, dragged by banks, financials and metal stocks. The BSE Sensex slumped over 1,600 points while the NSE barometer Nifty hit the sub-21,600 level. The sell-off intensified during late deals today. The 30-pack Sensex was down 1,630 points or 2.23 per cent at 71,498. And, the NSE benchmark was down 456 points or 2.07 per cent at 21,576. Such was the fall in the domestic indices that nearly Rs 4.7 lakh crore of BSE market capitalisation (m-cap) was wiped out. The domestic benchmarks extended their fall for the second straight session amid weak global cues.

Asian markets slipped after China's economic growth in December quarter missed expectations. Overnight, Wall Street equities also closed lower after a key Federal Reserve official said that the US central bank should not rush to lower rates, dampening expectations of early rate cuts.

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

Rs 4 lakh crore investor wealth lost

Investor wealth, as suggested by the BSE m-cap, fell Rs 4.69 lakh crore to Rs 370.25 lakh crore compared with a valuation of Rs 374.95 lakh crore recorded in the previous session. Frontline stocks such as HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, SBI, Tata Steel, M&M and Bajaj Finance contributed to the fall today.

15 stocks hit 52-week lows on BSE

As many as 15 stocks hit their 52-week lows today. BSE stocks such as Radiant Cash Management Services and Sanmit Infra their respective one-year low levels. That said, 223 stocks touched their one-year high levels today.

2,190 stocks in the red

Out of 3,713 stocks, 2,190 stocks were seen declining. Only 1,391 stocks were advancing, while 132 stocks remained unchanged.

HDFC Bank, IEX & Zomato down up to 7%

Shares of HDFC Bank, Indian Energy Exchange, Zomato, Lodha, Prestige, SAIL, Finolex Industries, Alembic Pharma and Vedant Fashions fell up to 7.01 per cent.

Banks, financials & metals among top drags

For Sensex, the major culprits that dragged the index lower were HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, SBI, Tata Steel, M&M and Bajaj Finance. HDFC Bank, ICICI and Kotak Bank alone contributed negatively to a 882-point decline.

On NSE, 12 out of 15 sub-indices were down. Nifty Bank, Nifty Financial Services and Nifty Metal fell sharply.

FII-DII data

Foreign institutional investors (FIIs) bought Rs 656.57 crore worth of shares on a net basis during the previous session, while domestic institutional investors (DIIs) sold Rs 369.29 crore worth of equity, according to stock exchange data.

On the global front, Asian markets were last seen trading lower. South Korea's Kospi index was down 2.25 per cent, Hong Kong's Hang Seng tanked 3.05 per cent and Shanghai Composite index slipped 0.98 per cent. Japan's Nikkei index was flat.

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