The Sensex dropped more than 1,200 points in early trading on Friday due to widespread selling. As a result, investor wealth decreased by Rs 6.93 lakh crore, falling from Rs 458.15 lakh crore to Rs 451.22 lakh crore. The Sensex fell 1,207 points to 80,082, and the Nifty slipped by 368 points to 22,180, reflecting weak market sentiment.
Stocks Leading the Losses
Stocks like JSW Steel, Tata Steel, IndusInd Bank, Bajaj Finserv, Axis Bank, and M&M were among the biggest losers, falling by up to 3.23%. Bharti Airtel was the only stock to gain, rising 1.5%.
Stocks Reaching 52-Week Highs
Despite the downturn, 177 stocks reached their 52-week highs. Meanwhile, 27 stocks hit their 52-week lows.
Market Sentiment Remains Negative
Out of 3,888 stocks traded, 1,001 saw gains, while 2,736 declined. Additionally, 151 stocks remained unchanged.
Circuit Limits Activated
Around 220 stocks hit their lower circuit limits as the market continued to drop. On the other hand, 223 stocks reached their upper circuit limits amid negative sentiment.
Midcap and Smallcap Stocks Fall
The BSE midcap index fell 620 points to 47,195, showing weakness in mid-sized stocks. The BSE small-cap index dropped 767 points to 56,358.
FII and DII Activity
Foreign institutional investors (FII) sold Rs 3,560 crore in equities on a net basis. Meanwhile, domestic institutional investors (DII) bought Rs 2,646.65 crore worth of shares, according to provisional data from the NSE.
Market Close on Thursday
On Thursday, the Sensex ended 236 points (0.29%) lower at 81,289, while the Nifty dropped 93 points (0.38%) to 24,548.70.