Bears Tighten Grip on D-St, Nifty Slides for 3rd Day; Investors Lose Rs 3 Lakh Cr

  • Stock Market News
Bears Tighten Grip on D-St, Nifty Slides for 3rd Day; Investors Lose Rs 3 Lakh Cr

By Malvika Gurung -- With bears continuing to grip the domestic market, Indian equity benchmark indices slid for the third consecutive session, ending lower on Monday, ahead of the RBI MPC outcome scheduled on Thursday, and amid a volatile session, marked by broad-based sell-offs.

Domestic benchmarks Nifty50 and Sensex closed 1.73% and 1.75% lower, respectively, after tanking about 2.3% in the session. 

Broader indices ended lower too, as the Nifty 500 dropped 1.42%, Nifty Midcap lost 1.03% and Nifty Smallcap declined 1.34%.

Investors on Dalal Street lost wealth worth Rs 2.9 lakh crore on Monday and Rs 6.7 lakh crore over the past three sessions.

Due to rising inflation, fears of aggressive policy tightening by the Fed loomed, and foreign investors continued to sell off. Market experts foresee FPI outflows to continue in emerging markets like India, in the short term. 

Today’s market slump was majorly led by sharp foreign outflows. According to provisional exchange data, FIIs have by far in 2022, sold domestic shares worth Rs 36,930 crore. 

All sectoral indices, except Nifty PSU Bank , ended in red, led by Nifty Financial Services , as HDFC Bank (NS: HDBK ) and HDFC Asset Management Company (NS: HDFA ) were the top laggers. Nifty Bank fell over 2% on Monday.

84% of stocks on the Nifty50 index ended in red, led by Tata Consumer Products (NS: TACN ) and L&T (NS: LART ), both declining over 3.5%.

On the 30-scrip Sensex, only 5 stocks ended in the green, led by Power Grid Corporation (NS: PGRD ), NTPC (NS: NTPC ) and Tata Steel (NS: TISC ).

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  • tejshree thakur @tejshree thakur
    nothing but demand of metals also horrible
    Like 0
  • Shrikant Yelne @Shrikant Yelne
    This is impact of selling buy FIIs coupled with DIIs.
    Like 1

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