Stock market crash today: What led to the steep fall in Sensex stocks? - Hindustan Times

Stock market crash today: What led to the steep fall in Sensex stocks?

Feb 28, 2024 05:36 PM IST

Sensex crash today saw the benchmark index losing 795.5 points to settle at 72,299 level.

Sensex crash today: On Wednesday afternoon, the 30-share Bombay Stock Exchange (BSE) Sensex witnessed a major fall, as it succumbed to selling pressure, and lost 795.5 points to plummet to 72,299, the day's low.

Representational Image
Representational Image

According to a Times Now report, at around 2 pm, in the late trading hours of the day, the loser pack that weighed heavily on the benchmark Sensex index was led by Power Grid Corporation (shares down 3.38%), Maruti Suzuki (2.67%), IndusInd Bank (2%), Mahindra & Mahindra (1.8%) and Reliance Industries (1.7%).

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However, despite the development, a few companies managed to trade in green. Among these, Jindal Worldwide's stock emerged as the top gainer, with its share price climbing by an impressive 13.56%, followed by Rainbow Children's Medicare (7.95%), Ageis Logistics (6.52%), Dreamfolks Service (5.49%) and Hvaells India (4.47%).

Overall, Dalal Street investors lost about 6 lakh crore as the market capitalisation of all BSE-listed stocks fell to 386 lakh crore, said The Economic Times.

Sensex, Nifty close the day low

The 30-share BSE Sensex fell by 790.34 points or 1.08 per cent to settle at 72,304.88. During the day, it tanked 872.93 points or 1.19 per cent to a low of 72,222.29.

The Nifty slumped 247.20 points or 1.11 per cent to settle at 21,951.15.

According to reports, the Sensex and Nifty declined due to selling in Reliance Industries and bank stocks amid weak global market trends.

Who gained, who lost?

Among the Sensex firms, Power Grid, IndusInd Bank, Maruti, Wipro, Tata Steel, JSW Steel, Asian Paints, Mahindra & Mahindra, Reliance Industries and UltraTech Cement were the biggest laggards.

Hindustan Unilever, Infosys and Tata Consultancy Services and Bharti Airtel were the gainers.

With inputs from PTI

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