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Sensex Nifty Crash: Sensex and Nifty plummet over 2% on October 3, erasing ₹9.78 lakh crore of investors’ wealth amid market concerns.
Sensex-Nifty Crash: Major Sell-Off Wipes Out ₹9.78 Lakh Crore in Investor Wealth
The Sensex-Nifty Crash on October 3 marked the worst intra-day fall for the Indian stock market in two months, wiping off nearly ₹9.78 lakh crore from investors’ wealth. The market capitalization of all companies listed on the Bombay Stock Exchange (BSE) fell to ₹4,65.07 lakh crore from ₹4,74.86 lakh crore recorded on Tuesday. Both the Sensex and Nifty plunged over 2% each, driven by rising concerns over high valuations.
Sensex Nifty Crash: Concerns Over Valuations Lead to Market Decline
The Sensex Nifty Crash occurred after a record-breaking rally, triggering a pullback in the Indian equity markets. According to Kotak Institutional Equities, the pursuit of returns appears to have outweighed the fear of risks, as investors seem to overlook concerns about high valuations. Analysts noted that the market remains vulnerable to corrections, especially with global and domestic uncertainties lingering.
