Market crash: Sensex tanks 906 points, wipes out ₹13.5 lakh crore
The Indian stock market just took a big hit: Sensex dropped 906 points and Nifty fell below 22,000, wiping out about ₹13.5 lakh crore in market value in a single trading session.
Nearly every sector felt the pain, and overall market sentiment turned pretty negative.
Mid and small caps take a hit
Small-cap and mid-cap stocks suffered the most, falling about 5% and about 4%, respectively.
Out of more than 3,500 traded stocks, almost all lost value, and over 200 hit new lows this week.
If you're watching your investments or thinking about entering the market, it's definitely a moment to pause.
Reasons behind the crash
Warnings from Securities and Exchange Board of India (SEBI) about froth and manipulation in smaller stocks spooked investors.
Plus, the Enforcement Directorate froze shares tied to a major betting app case.
Technical signals turned bearish too, with Nifty breaking key support levels and the rupee weakening, so confidence is low for now.