Fry-day! D-St investors lose Rs 6 lakh crore as Sensex crashes 1,000 points Nifty IT index stocks dropped as much as 4% amid Nvidia decline
Fry-day Blues: Market Meltdown and What It Means for Investors
In a dramatic turn of events, D-St investors have witnessed a staggering loss of Rs 6 lakh crore as the Sensex took a nosedive, plunging 1,000 points. The Nifty has also dipped below the crucial 22,300 mark, leaving many investors contemplating their next moves.
The IT Sector Takes a Hit
This downturn was largely influenced by the tech sector, notably the Nifty IT index, which saw a decline of up to 4%. This drop mirrors the overnight losses experienced on Wall Street, especially following a disappointing performance by chipmaker Nvidia. Investors reacted swiftly, causing significant declines in major IT stocks.
Key Players Affected
Among the hardest hit were Persistent Systems, Tech Mahindra, and Mphasis, which all suffered significant losses. These companies, once seen as stalwarts of the Indian IT sector, are now under scrutiny as investors reassess their portfolios amidst global market volatility.
The Broader Market Impact
The impact of this market crash extends beyond just the IT sector. With fears of an economic slowdown and rising inflation, investors are increasingly cautious. This could lead to a more extended period of volatility as market sentiments remain shaky.
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