Investor wealth erodes by ₹8.8 lakh cr as Sensex, Nifty slump over 1.5%
The BSE midcap and smallcap indices were the worst hit, while the financials, realty and auto sectors also showed significant weakness.
The BSE midcap and smallcap indices were the worst hit, while the financials, realty and auto sectors also showed significant weakness.
The multibagger stock has soared more than 6 times since its listing on the stock exchanges in October 2021.
Among the 30 constituents of Sensex, barring ITC, ICICI Bank, Kotak Bank, Bajaj Finance, and HDFC Bank, all heavyweights ended in negative terrain.
The top gainers on the BSE Sensex pack were Tata Steel, JSW Steel, Larsen & Toubro, Titan Company, and ICICI Bank, rising in the range of 3-5%.
Both Sensex and Nifty, along with midcap and smallcap indices, clocked fresh highs today as investors celebrated BJP’s big gains in MP, Rajasthan and Chhattisgarh.
Jio Financial Services, Reliance Industries, Power Grid, JSW Steel, Larsen & Toubro, and ONGC contributed the most to the losses in Sensex.
As Nifty breaks 19,000 level, it may induce an upward movement towards the 19,450, says analyst at LKP Securities.
The smallcap stock has risen 385% in the last one year, from its 52-week low of ₹442.95 on June 23, 2022, to an all-time high of ₹2,150 intraday today.
The price of the smallcap stock has risen 48% in the last four sessions and hit a new all-time high as investors cheered its strong March quarter earnings.
A meeting of the board of directors is scheduled on January 4 to consider the proposal for voluntary delisting of the equity shares of the company, says BF Investment.