Investors suffered heavy losses as the stock market took a sharp nosedive on Wednesday, March 13, 2024.

Nifty was also affected due to the tanking of the market, slipping by 353.95 points to 21,981.75, erasing gains made earlier in the day and highlighting the prevailing pessimism among investors on Dalal Street.

Investors incurred massive losses, amounting to Rs 13.57 lakh crore. The total investor wealth shrunk to Rs 371.69 lakh crore from the previous session's valuation of Rs 385.64 lakh crore.

Stocks such as PowerGrid, NTPC, Tata Steel, Bharti Airtel, Titan Company, and Tata Motors were among the leading contributors to the losses witnessed on the Sensex.

Market breadth remained predominantly in the red, with only 351 out of 3,926 stocks trading in the green. A vast majority of 3,526 stocks were trading in the red zone, while 66 stocks remained unchanged.

Indices such as BSE oil and gas, metals, consumer durables, and capital goods witnessed substantial declines, signaling a broad-based market downturn. The BSE auto index also slipped significantly, recording a decline of 1108 points to reach 46,839.

Amid the market slump, 1013 tocks hit their lower circuits. However, 125 shares managed to defy this trend and hit their upper circuit limits on the BSE.

In terms of FII-DII data, foreign institutional investors bought equities worth Rs 73.12 crore on a net basis on Tuesday, while domestic investors purchased shares amounting to Rs 2358.18 crore, according to provisional NSE data.

Source: India Today