Mumbai, Feb 26: Sensex crashed over 2,100 points in afternoon trade today after sell-off in global markets intensified with US carrying out air strikes in Syria. While Sensex tanked 2,149 points intra day to 48,890, Nifty lost 630 points to 14,467. Investor wealth fell by over Rs 6 lakh crore after BSE market cap plunged to Rs 200.12 lakh crore intra day.
The market crash in the last trading session of this week has left investors guessing about the trading strategy they should adopt in the near future. Here’s a look at what experts said about the crash today and the future market outlook.
Global markets fell after rising bond yields triggered a broad sell-off on Wall Street. Nasdaq fell 3.5% on Thursday while the S&P 500 dropped 2.4%, led lower by heavy selling in technology and communications companies.This hit Indian markets with the NSE volatility index India VIX surging 22.89% to 28.13.
Later, Sensex fell 1,939 points to end at 49,099.99 and Nifty plummeted 568 points to 14,529.
On Thursday, Sensex ended 257 points higher at 50,039 and Nifty gained 115 points to 15,097. With today’s crash, Sensex and Nifty have snapped three-session gaining streak caused by positive global cues and government’s move to lift the embargo on the grant of GOI business to private lenders. That took BSE market capitalisation to an all-time closing high of Rs 206.18 lakh crore on February 25, 2021.