Investors lose 10 lakh crore as market plummets with Sensex tanking nearly 1500 points

The Indian equity markets witnessed a massive sell-off on Friday as benchmark indices plummeted, marking the third consecutive session of losses. The BSE Sensex crashed by over 1,470 points, while the NSE Nifty50 struggled to stay above the 23,150 mark. This aggressive downturn was driven by broad-based selling across almost all major sectors, reflecting a dominant risk-off sentiment among investors amid growing global and domestic economic concerns.

The devastation was most visible in the metal, realty, and PSU banking sectors, which led the downward spiral. Financial and auto stocks also faced significant heat, adding to the market's misery. By the end of the trading session, the total market capitalization of BSE-listed firms saw a staggering erosion of approximately ₹10 lakh crore, leaving retail investors in a state of shock as the indices touched multi-week lows.

In a sea of red, the FMCG sector stood out as the lone warrior, managing to close in positive territory. This suggested a strategic shift toward defensive buying, as investors sought refuge in consumption stocks to hedge against the heightened volatility. Despite this minor silver lining, the intensity of the overall crash indicates a cautious outlook for the coming week, with technical charts showing weakened support levels for both major indices.