Sensex tumbles 2,113 pts for week, Nifty sheds 671 pts; investors lose Rs 18 lakh crore wealth
Share Market Crash: Domestic equity benchmarks Nifty 50 and Sensex logged weekly losses of 2,113 points and 671.2 points respectively in a Mahashivaratri holiday-truncated trading week from February 24 to 28. IT, energy and PSU banking stocks were the worst hit as Dalal Street bulls endured across-the-board selling. Read on to learn about the trading week that was.
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Stock Market Crash, Market This Week: Domestic equity benchmarks took heavy losses in the four-session trading week from February 24 to February 28 with Mahashivaratri on Wednesday. The Nifty 50 lost 671.2 points, or 2.9 per cent, for the week while the Sensex gave up 2,113 points, or 2.8 per cent, amid a sell-off across sectors, with IT, energy and PSU banking stocks being the worst hit. Global trade-related back and forth kept investors on their toes while an official Indian GDP reading—the reaction to which is expected on Monday—did little to rescue investor sentiment.
Broad indices also bore the brunt of turmoil, reflected in weekly losses of 6.0 per cent and 5.1 per cent in the Nifty Smallcap 100 and Nifty Midcap 100 gauges respectively.
How Nifty 50 stocks fared in the February 24-28 trading week with Mahashivaratri holiday on Wednesday
All but four stocks ended in negative territory in the 50-scrip basket.
Tech Mahindra, Wipro, UltraTech, TCS and Tata Motors were the worst hit, logging weekly losses of 7.8-9.8 per cent each.
| Nifty 50 Stock | Close | Change (%) |
|
Tech Mahindra
|
1,488 | -9.80% |
|
Wipro
|
277.65 | -9.37% |
|
UltraTech
|
10,128 | -9.22% |
|
TCS
|
3,483 | -8.00% |
|
Tata Motors
|
620.65 | -7.81% |
|
HCLTech
|
1,575 | -7.39% |
|
Bajaj Auto
|
7,903 | -7.09% |
|
Infosys
|
1,688 | -7.01% |
|
ONGC
|
225.25 | -6.11% |
|
BPCL
|
237.3 | -5.57% |
|
IndusInd Bank
|
990.1 | -5.14% |
|
Grasim
|
2,307 | -5.12% |
|
Britannia
|
4,595 | -4.89% |
|
Cipla
|
1,408 | -4.62% |
|
SBI
|
688.8 | -4.60% |
|
L&T
|
3,164 | -4.56% |
|
NTPC
|
311.45 | -4.54% |
|
Hero MotoCorp
|
3,681 | -4.45% |
|
SBI Life
|
1,431 | -4.34% |
|
Power Grid
|
250.85 | -4.22% |
|
Bharti Airtel
|
1,570 | -4.21% |
|
Apollo Hospital
|
6,053 | -4.19% |
|
Tata Consumer Products
|
963.7 | -4.01% |
|
Trent
|
4,852 | -3.90% |
|
BEL
|
246.25 | -3.85% |
|
Eicher Motors
|
4,774 | -3.81% |
|
Asian Paints
|
2,180 | -3.45% |
|
Titan
|
3,077 | -3.23% |
|
JSW Steel
|
950.7 | -3.18% |
|
M&M
|
2,585 | -3.16% |
|
Sun Pharma
|
1,593 | -3.07% |
|
Maruti Suzuki India
|
11,946 | -3.06% |
|
Dr Reddy's Labs
|
1,117 | -3.06% |
|
Hindalco
|
634.35 | -2.94% |
|
Kotak Bank
|
1,903 | -2.57% |
|
Tata Steel
|
137.2 | -2.53% |
|
ICICI Bank
|
1,204 | -2.34% |
|
HDFC Life
|
608.5 | -2.30% |
|
HUL
|
2,190 | -2.29% |
|
RIL
|
1,200 | -2.28% |
|
Adani Enterprises
|
2,096 | -1.74% |
|
ITC
|
395 | -1.47% |
|
Adani Ports
|
1,069 | -1.28% |
|
Nestle India
|
2,190 | -1.14% |
|
Bajaj Finserv
|
1,872 | -0.38% |
|
Coal India Ltd
|
369.35 | -0.16% |
| Shriram Finance | 617.3 | 5.50% |
| HDFC Bank | 1,732 | 2.36% |
| Bajaj Finance | 8,530 | 1.59% |
| Axis Bank | 1,016 | 0.65% |
Among Dalal Street's heavyweight spaces, IT and financial stocks—especially those of state-run lenders—were at the forefront of the sell-off, with the Nifty IT giving up 3,226.2 points or 8.0 per cent for the week.
The Nifty Bank—whose 12 constituents include SBI and HDFC Bank—fell 636.5 points or 1.3 per cent while the Nifty PSU Bank dropped 318.5 points or 5.3 per cent.
Where NSE's sectoral indices stand for the week; Nifty IT tumbles 8%
| Index | Weekly Change (ots) | Change (%) |
| NIFTY IT | -3,226.20 | -7.96 |
| NIFTY MEDIA | -105.55 | -7.07 |
| NIFTY REALTY | -46.60 | -5.52 |
| NIFTY MIDSMALL FINANCIAL SERVICES | -801.30 | -5.48 |
| NIFTY PSU BANK | -318.50 | -5.33 |
| NIFTY OIL & GAS | -483.60 | -4.80 |
| NIFTY AUTO | -1,007.30 | -4.68 |
| NIFTY METAL | -390.45 | -4.54 |
| NIFTY FINANCIAL SERVICES EX-BANK | -952.15 | -3.77 |
| NIFTY HEALTHCARE INDEX | -431.90 | -3.29 |
| NIFTY CONSUMER DURABLES | -1,031.05 | -2.91 |
| NIFTY PHARMA | -572.15 | -2.81 |
| NIFTY FMCG | -1,409.15 | -2.70 |
| NIFTY MIDSMALL HEALTHCARE | -1,004.00 | -2.63 |
| NIFTY BANK | -636.50 | -1.30 |
| NIFTY PRIVATE BANK | -251.75 | -1.03 |
| NIFTY FINANCIAL SERVICES | -145.40 | -0.63 |
With Friday's share market crash, Feb 24-28 trading week losses crossed Rs 18 lakh crore
Investors became poorer by Rs 18.2 lakh crore during the four-day trading week, as the market capitalisation of BSE-listed companies slumped to Rs 384 lakh crore from Rs 402.2 lakh crore, according to provisional exchange data.
ALSO READ: Rs 9 lakh crore investor wealth destroyed within hours
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