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Monday blues for Stock Market: What led to the Rs 2.72 Lakh crore market cap erosion

  • Indian stock market witnesses profit booking, leading to a substantial dip
  • Investors incur losses of Rs 2.72 lakh crore in market capitalization
  • Various sectors, including IT, Auto, Pharma, Metals, Healthcare, Oil & Gas, and Consumer Durables, report declines

08 Jan 2024

Monday blues for Stock Market: What led to the Rs 2.72 Lakh crore market cap erosion

In a session marked by profit booking, the Indian stock market witnessed a significant dip, causing investors to incur losses of Rs 2.72 lakh crore in market capitalization. The decline affected various sectors, including IT, Auto, Pharma, Metals, Healthcare, Oil & Gas, and Consumer Durables, all of which closed with losses. On the first trading day of the week, banking, FMCG, and midcap stocks bore the brunt of this market downturn.

At the closing bell, the Sensex reported a decline of 670.93 points, settling at 71,355.22 points, while the Nifty ended at 21,513 points with a loss of 197.80 points. Despite this, midcap and smallcap stocks continued to exhibit growth amid the overall market correction.

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