Sensex slumps over 550 points: Rs 1.1L cr investor wealth lost; SJVN, GMR Power down up to 10%

Indian equity benchmarks fell sharply in late deals today, dragged by technology, consumer durables, banks, financials and automobile stocks. The BSE Sensex slumped over 500 points while the NSE barometer Nifty hit the sub-19,750 level. At 10:30 am, the 30-pack Sensex was down 551 points or 0.82 per cent at 66,251. The NSE benchmark was down 153 points or 0.74 per cent at 19,748. Pain in the domestic benchmarks intensified as the session progressed. Such was the fall in the domestic indices that around Rs 1.1 lakh crore of BSE market capitalisation (m-cap) was wiped out.

Broader markets also came under pressure as BSE mid-cap and small-cap indices turned into the red. Investors turned cautious after the US Federal Reserve suggested it expected interest rates to remain higher for longer.

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

Rs 1.1 lakh crore investor wealth lost

Investor wealth, as suggested by the BSE m-cap, fell Rs 1.1 lakh crore to Rs 319.41 lakh crore compared with a valuation of Rs 320.51 lakh crore recorded in the previous session. Frontline stocks such as ICICI Bank, Tata Consultancy Services (TCS), ITC, L&T, M&M, Bajaj Finance and Infosys contributed to the fall today.

20 stocks hit 52-week lows on BSE

As many as 20 stocks hit their 52-week lows today. BSE stocks such as AFEL, AKI, Anuroop, Besteast, Bheema Cements, EMS, FLFL and GCM Securities hit their respective one-year low levels. That said, 201 stocks touched their one-year high levels today.

1,544 stocks in the red

Out of 3,443 stocks, 1,544 stocks were seen declining. 1,701 stocks were advancing, while 198 stocks remained unchanged.

SJVN & GMR Power down up to 10%

Shares of SJVN, GMR Power and Urban Infra, GTL Infra, KPIT Tech, Indian Metals, GE T&D, Dynamatic Technologies, Tata Teleservices and Zen Tech fell up to 10 per cent.

IT, FMCG & banks among top drags

For Sensex, the major culprits that dragged the index lower were ICICI Bank, TCS, ITC, L&T, M&M, Bajaj Finance and Infosys. ICICI, TCS and ITC alone contributed negatively to a 259-point decline.

On NSE, 10 out of 15 sub-indices were down. Nifty IT, Nifty FMCG, Nifty Bank, Nifty Financial Services and Nifty Auto fell sharply.

FII-DII data

Foreign institutional investors (FIIs) sold Rs 3,111 crore on a net basis during the previous session, while domestic institutional investors (DIIs) sold Rs 573 crore, according to stock exchange data.

On the global front, Asian markets were last seen trading lower. Japan's Nikkei index fell 1.26 per cent, South Korea's Kospi index was down 1.51 per cent, Hong Kong's Hang Seng tanked 1.32 per cent and Shanghai Composite index slipped 0.47 per cent.

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