Stock market decline wiped out around ₹8.44 lakh crore in investor wealth on Monday as Indian benchmark indices fell sharply amid caution over the U.S. presidential election, Federal Reserve policy and weak corporate earnings.
The BSE Sensex dropped 1,409 points, or 1.77%, to 78,316, while the Nifty 50 declined 454 points, or 1.87%, to 23,850. The sharp fall was led by banking, financial and IT stocks, while rising crude oil prices added to concerns among investors.
Stock Market Decline: Key Highlights
Top losers on the Sensex included Reliance Industries, Infosys, ICICI Bank, HDFC Bank, and Sun Pharma, which together contributed to a 420-point drop. Other major players like L&T, Axis Bank, TCS, and Tata Motors also added to the decline. Sector-wise, indices for Nifty Bank, Auto, Financial Services, IT, Pharma, Metal, Realty, Consumer Durables, and Oil & Gas recorded losses between 0.5% and 1.7%. Meanwhile, the India VIX, a measure of market volatility, rose by 5.2%, reaching 16.73.
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