D-St Bloodbath: Rs 7.98 lakh crore wiped out as investors flee before Budget

economictimes.indiatimes.com:

Reliance Industries also dragged the benchmarks lower.

Selling was observed in all sectors.

The 30-share BSE benchmark Sensex tumbled 739 points, or 0.91%, to settle at 80,604. The broader NSE Nifty plunged 270 points, or 1.09%, to end at 24,531.

Meanwhile, the market capitalisation of all listed companies on BSE declined by Rs 7.98 lakh crore to Rs 446.34 lakh crore.

Among the Sensex stocks, Tata Steel, JSW Steel, Tata Motors, NTPC, UltraTech Cement, and Tech Mahindra were the top laggards, falling 3-5%. Except for Infosys, ITC, Asian Paints, and HCL Tech, all Sensex constituents ended in the red.

Infosys closed nearly 2% higher after the firm on Thursday raised its fiscal year 2025 revenue growth outlook to 3%-4% from 1%-3% earlier, helped by demand recovery.

However, IT firm Persistent Systems fell 6.5% after reporting operating profit margins below analysts' estimates.

Sector-wise, Nifty Metal plunged nearly 4%, dragged by Tata Steel, Jindal Stainless, and NMDC. Meanwhile, Nifty Auto, Media, Realty, and Oil & Gas also declined over 2%. In the broader market, Nifty Midcap100 fell 2.%, and Nifty Smallcap100 dropped 2.3%.