Investors lose Rs 4 lakh crore as Sensex melts 1,100 pts. Key factors behind today's bloodbath
Sensex crashed 1,126 points or 1.5% to the day's low of 73,627.99, the broader Nifty 50 plunged 289 points, hitting the day's low of 22,358.65. All sectoral indices are trading with cuts.
The market capitalisation of BSE-listed companies also dropped by a whopping Rs 4.25 lakh crore.
Fear gauge India VIX also surged 11% to almost 15, gaining for the 7th straight session
Here are the key reasons that led to today's bloodbath
1) RIL, HDFC Banks lead debacle
The Indian markets eroded their morning gains and fell to the day's low dragged by RIL, L&T, HDFC Bank, and Bharti Airtel among others. These stocks pulled down the headline indices, the most in terms of their contribution to the respective indices.
2) Asian Markets
Not just D-St but, several major Asian frontline indices were also trading in the red. Among them were Japanese Nikkei, down by 37 points or 0.10% at 38,236.07. China's Shanghai Composite was trading with a negative bias, down by 0.26% at 3,104.82. South Korea's Kospi also shed 0.30%.
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