Global Market Turmoil: BSE Sensex Plummets

On Friday, the wealth of investors diminished by Rs 4.46 lakh crore as the BSE Sensex fell over 1%. The decline aligned with a global downturn. The Sensex dropped 885.60 points with most components seeing losses. The market capitalisation of BSE-listed companies reduced significantly. Caution is advised going forward.

Investor wealth eroded by Rs 4.46 lakh crore in a single day on Friday, as the benchmark BSE Sensex fell more than 1%, mirroring a global stock rout.

The 30-share BSE Sensex dropped 885.60 points, or 1.08%, ending at 80,981.95, with 25 components declining. It hit an intra-day low of 80,868.91, plunging 998.64 points or 1.21% during the session.

Out of the 4,033 stocks traded, 2,311 scrips fell, 1,616 advanced, and 106 remained unchanged, showing overall market weakness. The market capitalisation of BSE-listed firms decreased by Rs 4,46,003.7 crore to Rs 4,57,16,946.13 crore (USD 5.46 trillion).

"The Indian market ended lower on Friday, following weak global markets amid concerns about the US Federal Reserve's ability to orchestrate a soft landing," said Avdhut Bagkar, Technical and Derivatives Analyst at StoxBox. Investors remain wary, particularly with upcoming RBI monetary policy decisions and the impact of recent declines in Asian and US markets.

Real estate, metals, auto, IT, commodities, tech, and capital goods were among the sectors experiencing the most losses, while healthcare gained. Asian and European markets also closed lower, and Brent crude fell 2% to USD 77.93 per barrel. Foreign institutional investors offloaded Rs 3,310 crore worth of equities on Friday.

(With inputs from agencies.)