Monday Mayhem! Sensex closes 1545 points down after crashing 2,053 points in intra-day

Mumbai (Maharashtra) [India], January 24 (ANI): The Indian equities markets key indices Sensex and Nifty crashed by around 2.6 per cent on Monday wiping out nearly Rs 10 lakh crore of investors’ wealth.
The benchmark Sensex closed 2.62 per cent or 1545.67 points down at 57,491.51 in a chaotic session on Monday. The Sensex dipped to a low of 56,984.01 points in the intra-day, which is 2,053.17 points down from its previous session’s close at 59,037.18 points. This was the biggest intra-day slump since April 2021.
The broader Nifty 50 of the National Stock Exchange tumbled 468.05 points or 2.66 per cent to 17,149.10 points.
Key indices of the Indian stock markets have closed in the red for the fifth consecutive session. However, the Monday’s selloff was the worst.
Extending last week’s loss the 30 stock S&P BSE Sensex of the Bombay Stock Exchange opened the Monday’s trading marginally down at 59,023.97 points against its previous session’s close at 59,037.18 points. However, the selling pressure intensified as the day progressed. The index tanked more than 2000 points by end of the trading session.
The broader Nifty 50 of the National Stock Exchange opened at 17,575.15 points and slumped to a low of 16,997.85 points in the intra-day.
There was broad-based selling pressure. All the Sensex scrips closed in the red. Shares of four Sensex companies crashed by more than 5 per cent. 18 of the 30 scrips that are part of the Sensex closed with more than 2 per cent loss.
Tata Steel crashed 5.98 per cent to Rs 1099.15. Bajaj Finance tumbled 5.97 per cent to Rs 6932.75. Wipro slumped 5.35 per cent to Rs 572.85 and Tech Mahindra tumbled 5.14 per cent to Rs 1512.15.
The index heavyweight Reliance Industries Limited slumped 4.06 per cent to Rs 2377.55. This is the first trading session after the company announced its financial results for the third quarter of the current financial year. RIL on Friday said its consolidated net profit for October-December 2021 quarter surged to Rs 20,539 crore ($2.8 billion), posting an increase of 37.9 per cent year-on-year. The company’s gross revenue for the quarter ended December 31, 2021 soared 52.2 per cent to Rs 209,823 crore ($28.2 billion).
Other major Sensex losers included: Titan 4.97 per cent down at Rs 2402.95; HCL Technologies 3.84 per cent down at Rs 1123.05; Bajaj Finserv 3.83 per cent down at Rs 15707.95; Asian Paints 3.63 per cent down at Rs 3155.80; Kotak Bank 3.20 per cent down at Rs 1832.25 and Dr Reddy’s Laboratories 3.03 per cent down at Rs 4362.35. (ANI)