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Published 20:40 IST, January 27th 2025

Stock Market Crash Today: Rs 9.28 Lakh Crore Wiped Off From D-Street - What's Happening?

On the BSE, the 30-share index fell 1.08%, losing 824.29 points to close at 75,366.17, a level unseen since June 2024.

Reported by: Business Desk
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Stock market news | Image: Republic

The stock market took a major hit on Monday, as key indices fell to their lowest levels in over seven months, erasing Rs 9.28 lakh crore in investor wealth. The market cap of BSE-listed firms dropped sharply, closing at Rs 4,10,31,199.48 crore ($4.75 trillion) after a notable plunge of Rs 9.2 lakh crore.

On the BSE, the 30-share index fell 1.08%, losing 824.29 points to close at 75,366.17, a level unseen since June 2024. At its lowest point during the day, the index was down 922.87 points (1.2%), reaching 75,267.59.

What’s behind the market fall?

The decline was fuelled by a combination of factors, including growing concerns over US trade policy, fears about sluggish corporate earnings, and heightened volatility in anticipation of the upcoming fiscal budget and Federal Open Market Committee (FOMC) meeting, according to Ameya Ranadive, Chartered Market Technician and Senior Technical Analyst at StoxBox.

Geopolitical instability and persistent selling by foreign institutional investors (FIIs) also contributed to the downturn. Smaller companies suffered the most, as mid and small-cap stocks took a significant hit, with a broad sell-off prompted by inflated valuations. The broader market trend was negative, with 3,588 stocks declining, 532 advancing, and 114 unchanged.

How did major companies and sectors fare on Monday?

Among the major Sensex stocks, HCL Technologies saw the steepest fall, down 4.49%, followed by Zomato, Tech Mahindra, PowerGrid, and Tata Motors. Other major decliners included Infosys, Tata Steel, HDFC Bank, Reliance Industries, and Bharti Airtel, all contributing to the slump.

ICICI Bank, however, bucked the trend, gaining 1.39% after posting positive third-quarter results. Hindustan Unilever, M&M, SBI, and L&T were amongst the few stocks that posted gains.

Sector-wise, telecommunications led the decline, falling 3.83%, followed by IT (down 3.34%) and several other sectors including Teck, Metal, Healthcare, Industrials, and Oil & Gas, all of which saw significant losses.

Looking ahead, market volatility is expected to persist, driven by uncertainty surrounding the upcoming RBI monetary policy committee (MPC) meeting and the FOMC's policy stance.

FIIs continued to pull out from the market, selling equities worth Rs 5,015.46 crore on Monday, as per exchange data.

(With PTI Inputs)

Updated 20:40 IST, January 27th 2025