D-St Carnage! Nifty Hits 4-Month Low, Investor Wealth Erodes, VIX Soars 20%

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D-St Carnage! Nifty Hits 4-Month Low, Investor Wealth Erodes, VIX Soars 20%

By Malvika Gurung

Investing.com -- The domestic market is witnessing a bloodbath on Friday intraday trade, extending the previous session’s fall ahead of the Union Budget and Federal Reserve’s monetary policy action next week.

The benchmark index Nifty50 plunged 1.76% while writing, to 17,576.6 points, sliding under the 17,600 mark and hitting a four-month low of 17,531.2 points on Friday.

The 30-scrip index Sensex crashed over 1,000 points in the afternoon session, tumbling 1.71% or 1,102 points at the time of writing, while the market fear gauge India VIX rallied 20.45% to 17.65 levels, zooming over the 18-mark in the session today.

Investor wealth on Dalal Street was eroded by over 8 lakh crore in the intraday session. Bank and financial stocks were hit the most on Friday, along with the 10 listed stocks owned by the Adani Group.

At 1:30 pm, Nifty PSU Bank crashed 5.64%, led by Bank of Baroda (NS: BOB ) and Union Bank of India (NS: UNBK ), while Nifty Bank and Nifty Metal plummeted 3.12% and 4.12%, respectively. Nifty Realty hit a 6-month low.

7 out of the 10 listed Adani Group stocks hit 5-20% lower circuits on Friday’s session, with Adani Ports and SEZ (NS: APSE ) and Adani Enterprises (NS: ADEL ) slashing upto 20% and pulling the Nifty pack lower.

Read Also: Adani Stocks Fry-Day: Adani Stocks Hit Upto 20% Lower Circuits on Hindenburg Claims

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  • Paras Varma @Paras Varma
    it's raining money in Adani...once a lifetime opportunity
    Like 3

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