Afternoon Session: Sensex Tanks, Investors Lose Wealth, Metal Stocks Shine & More
By Malvika Gurung
Investing.com -- A day after returning to trade on Wednesday, Indian stocks slumped, mirroring an overnight fall on Wall Street and tracking negative signals from Asian markets, as oil prices soared to multi-year highs in early trade, amid escalating Russia-Ukraine tensions and the West imposing aggressive sanctions on Russia.
Benchmark equity indices Nifty 50 and BSE Sensex were trading 1.55% and 1,041 points or 1.85% lower, respectively at 1:35 pm, widening losses from its opening in the red.
Investors on Dalal Street lost Rs 76,809 crore in Wednesday’s morning session, led by aggravating global unrest, soaring oil prices, and lower-than-expected GDP growth of 5.3% YoY in Q3 FY22.
The market capitalization of BSE-listed stocks fell by Rs 76,809 crore to Rs 2,51,62,236.2 crore, at par with the domestic and global sell-off, reported PTI.
Moreover, fear barometer, India VIX surged nearly 8% to 30.8 in the session, representing high volatility.
Barring Nifty Metal and Nifty Media , all other sectoral indices on the Nifty basket were slumping deep in red, led by Nifty Private Bank and Nifty Bank , down 3.23% and 3.16%, respectively.
Nifty Metal, on the contrary, was up over 4%, led by Hindustan Zinc (NS: HZNC ) and Coal India (NS: COAL ), up 7.9% and 7.4%.
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