Sensex sheds over 1,568 points; investors lose over Rs 5.47 lakh crore in early trade

Sensex plunged over 1,500 points on Monday making equity investors poorer by more than Rs 5.47 lakh crore in early trade. The 30-share BSE (Bombay Stock Exchange) benchmark sank 1,568.46 points to reach 52,734.98 in early trade. The broader NSE Nifty tanked 451.9 points to 15,749.90 points.

Amid the extremely weak tread in equities, the market capitalisation of BSE-listed companies collapsed by Rs 5,47,410.81 crore to Rs 2,46,36,948.05 crore in the morning trade.

"Nifty opened gap down as equity markets across the globe are witnessing a sell-off after US May inflation data accelerated to four decades high, which raised concerns about aggressive rate hikes by US Fed in the upcoming monetary policy meeting due this Wednesday. On the domestic side, India's inflation data is due on Monday on account of which nervousness is likely to be seen in the market," said Hemang Jani, Head Equity Strategy, Motilal Oswal Financial Services.

Bajaj Finance, ICICI Bank, Bajaj Finserv, Tech Mahindra, TCS, Infosys, NTPC, SBI, Larsen, Reliance, Sun Pharma, HDFC, Tata Steel, Titan Company, ITC, Asian Paints, Dr Reddy's Labs, Kotak Mahindra Bank, HUL, Maruti Suzuki, Bharti Airtel and IndusInd Bank were among the major sluggards from the Sensex pack.

Meanwhile, Compucom Soft, Aryaman Cap, Navigant Corp, Sumedha Fiscal, Relicab Cable M, Nilachal Refra, Lypse Gems, Essar Sec, Nexus Surgical, Real ECo-Energy, Tree House, KBS IndiaNINtech SYSTEMS, RCI Industries, Silver Oak, Marble City IND, Gensol ENgineer, Sonal Merchant, Ajcon Global, Pritika Auto, Rajesh Exports, Kovai Medical, Ind-Swift, CCL Internation, Graviss Hosp, Meenakshi ENt, Mayukh Dealtrad were among the major gainers.

Bourses in Seoul, Hong Kong, Tokyo and Shanghai were also trading with deep cuts. In the US, stock exchanges closed sharply lower on Friday.

Indices (13.30 pm)

• S&P BSE Sensex 52,787.74 (-1515.7)
• S&P BSE SENSEX 50 16,542.36 (-456.71)
• S&P BSE SENSEX Next 50 43,696.41 (-791.04)
• S&P BSE 100 16,046.14 (-424.74)
• S&P BSE Bharat 22 Index    3,981.67 (-109.16)

NSE Indices 

• Nifty 50 15,744.95 (-456.85)
• Nifty Next 50 36,884.35 (-772.80)
• Nifty midcap select 6,427.50 (-211.25)
• Nifty bank 33,327.75 (-1,156.05)
• Nifty financial services 15,325.65 (-521.65)

vForeign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 3,973.95 crore on Friday, as per exchange data. 

According to exchange data, Foreign institutional investors remained net sellers in the capital market, as they sold equity shares worth Rs 3,973.95 crore on Friday.