Bajaj Finance shares hit 52-week low; Rs 1 lakh crore investor wealth wiped out amid US-Iran war

Shares of Bajaj Finance hit their fresh 52-week low on Thursday amid a broad-based market selloff triggered by the missile attacks by Iran and Israel on vital energy sites. The NBFC stock hit its 52-week low of Rs 826.70, falling 6.06% intra day on Nifty against the previous close of Rs 880.10. 

Later,the NBFC stock ended 5.44% lower at Rs 832.20 on NSE. Market cap of the firm stood at Rs 2.21 lakh crore. 

On BSE, the Bajaj Finance stock closed  5.44% lower at Rs 832. Market cap of the NBFC stood at Rs 5.17 lakh crore. 

Investors have lost Rs 1.02 lakh crore in this NBFC stock since the war started on February 28 this year.    

Amid the correction today, the stock is trading below all its long-term and short-term moving averages. Bajaj Finance stock has lost 13.54% in two weeks and 18% in a month amid the ongoing market weakness. 

Meanwhile, Sensex slumped 2,496.89 points, or 3.26 per cent, to close at 74,207.24, while the Nifty cracked 775.65 points, or 3.26 per cent, to end at 23,002.15 today. Both benchmark indices reversed their combined gains from the previous three sessions.