- Investors have lost 13.57 lakh crore in wealth in a sharp plunge on Dalal Street today, with the market capitalisation (m-cap) of BSE-listed companies falling to Rs 242 lakh crore from Wednesday's Rs 255 lakh crore mark.
- Mid- and small-cap shares finished on a negative note as Nifty Midcap 100 index dived 5.74 per cent and small-cap shares shed 6.25 per cent. India's volatility or fear index (India VIX) rose 30.31 per cent.
- All of the 15 sector gauges -- compiled by the National Stock Exchange -- settled in the red. Nifty PSU Bank and Nifty Auto underperformed the index by falling as much as 8.26 per cent and 6.26 per cent, respectively.
- On the stock-specific front, Tata Motors was the top Nifty loser as the stock cracked 10.71 per cent to Rs 425.90. IndusInd Bank, UPL, Grasim Industries and JSW Steel were also among the laggards.
- Also, Indus Towers Ltd plunged as much as 18.54 per cent to Rs 205, after Britain's Vodafone Group Plc said it was looking to sell its entire 28.1 per cent stake in the company.
- On BSE, the overall market breadth stood weak as 236 shares advanced while 3,155 declined.
- All Sensex constituents finished with hefty losses, with IndusInd Bank, M&M, Bajaj Finance, Axis Bank, Tech Mahindra and Maruti suffering the most by dropping as much as 7.88 per cent. Meanwhile, Indian rupee tanked 102 paise to close at 75.63 (provisional) against the U.S. dollar.
- Technical View: "The market witnessed a steep correction after it was not able to sustain an important support level of 16,800. Our research suggests that sustaining above 16,400 will be an important level for the market. If the market is unable to sustain above 16,400, we can expect a correction to continue till the level of 16,000. Technical indicators suggest a volatile movement to continue in the market," said Vijay Dhanotiya, Lead of Technical Research at CapitalVia Global Research Ltd.
- Global stocks and U.S. bond yields dived, while the dollar, gold and oil prices rocketed higher.
- Oil prices breached $100 a barrel for the first time since 2014. India is the world's third-largest importer of oil.
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