You just lost this big amount by investing in Sensex; Index cracks below 33,500-mark
Sensex today touched an intraday low of 33,723.53, taking the overall performance down by 1,037 points from previous day's closing of 34,760.89.
Below 34,000-mark! Yes, that is true! This is today’s scenario painted by benchmark index Sensex, which made a shocking nosedive by over a whopping 1,000 points. The same is the case with another Dalal Street index, Nifty 50, which tumbled by over 300 points today. Both find themselves dipped in blood up to their noses at the hands of investors who are fleeing en masse. Looks like investors have lost all faith in trading in Indian equities as now no one wants to take a chance to put in their money. They are mostly voting with their feet, at the moment.
At around 12:08 hours, the Sensex did reverse its losses, and was trading at 34,045.46, below by 715.43 points or 2.06%, whereas the Nifty 50 also followed the same movement and was trading at 10,237.45 lower by 222.65 points or 2.13%.
However, the fact cannot be ignored that Sensex today touched an intraday low of 33,723.53 - taking the overall performance down by 1,037 points from previous closing of 34,760.89.
But did you know, that from September 14 where Sensex stood at 38,090.64, it dropped by a massive 4,367.11 points up till today. This massive decline took place in just four weeks time.
Not only this, the index lost a behemoth Rs 18,27,988.58 crore. On September 14, Sensex’s market cap was at Rs 140.61 lakh crore which has slipped to Rs 122.33 lakh crore.
It was just end of August, where Sensex was staring right in the eye of a 39,000-mark. Even the analysts did not predicted such a massive downfall of Sensex.
If we compare from all-time high of 38,989.65 recorded in August 30, then Sensex has dropped by Rs 20,88,160.72 crore. By end of August, Sensex had a valuation of Rs 143.21 lakh crore.