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HomeMarket NewsSensex plunges 984 points, Nifty breaches 200-DMA as ₹20 lakh crore in market capitalisation wiped out
The Nifty index dropped 324 points, closing at 23,559, a five-month low, while the Sensex plunged 984 points to end at 77,691. The Nifty is now down 10% from its September 27 record high.
The equity benchmark indices BSE Sensex and NSE Nifty experienced a widespread sell-off on Wednesday (November 13), marking the fifth consecutive day of losses.
The Nifty index dropped 324 points, closing at 23,559, a five-month low, while the Sensex plunged 984 points to end at 77,691. The Nifty is now down 10% from its September 27 record high.
BSE-listed companies collectively lost market capitalisation of ₹8 lakh crore on Wednesday, with a total loss of nearly ₹20 lakh crore over the past three sessions.
The Nifty Bank index fell by 1,069 points to 50,088, while the Nifty Midcap Index declined 1,457 points to 53,801. The Nifty 200-day moving average (DMA) of 23,535 was breached, further intensifying bearish sentiment.
Also Read: Market Sell-Off: These smallcap stocks have seen double-digit gains in the last two months
From the Sensex basket, Tata Motors, Hindustan Unilever Ltd and NTPC Ltd were the major gainers. Tata Steel, Mahindra & Mahindra, JSW Steel, IndusInd Bank, State Bank of India and HDFC Bank were the biggest laggards.
Out of the 50 Nifty stocks, 46 ended in the red, with auto and metal sectors leading the losses. Among the top Nifty losers were Hero MotoCorp, Hindalco, Tata Steel, Mahindra & Mahindra, Bharat Electronics, and Shriram Transport.
Market breadth was heavily skewed towards declines, with an advance-decline ratio of 1:10, and the volatility index surged 7%, rising above its 100- and 200-day DMAs.
In sector-specific moves, Samvardhana Motherson, Hyundai, and Bosch shares fell despite positive management commentary. Among mid and small-caps, GNFC, Metropolis, and NCC faced notable losses.
Also Read: Nifty may fall another 10% in 3-6 months, says Macquarie's Sandeep Bhatia
However, Zydus Lifesciences and Alkem Laboratories were outliers, ending in the green after posting healthy Q2 results. In a bright spot amidst the sell-off, Swiggy made a strong debut, surging 20% on its first day of trading post-listing.
