Indian Stock Markets Crash: Sensex Falls Over 1,090 Points, Investors Lose Rs.6 Lakh Crore
Indian stock markets ended sharply lower on May 29 as the Sensex plunged 1,092 points and the Nifty dropped 359 points. Investors reportedly lost nearly Rs.6 lakh crore in market value.
Prasanth Subramani 
Indian equity markets witnessed a sharp sell-off on Friday, May 29, with both benchmark indices ending significantly lower amid broad-based weakness across sectors.
The benchmark BSE Sensex opened at 75,988.51 points but closed at 74,775.74, registering a steep decline of 1,092.05 points by the end of the trading session.
Similarly, the Nifty 50 ended the day at 23,547.75 points, down 359.40 points from the previous close.
The decline marks the third consecutive trading session of losses for Indian markets. According to market estimates, investors lost nearly Rs.6 lakh crore in wealth during Friday's trading alone as market capitalization eroded significantly.
Among the 30 Sensex stocks, major losers included Power Grid Corporation of India, NTPC Limited, Mahindra & Mahindra, Tata Steel, and Bajaj Finance.
On the positive side, IT stocks such as Tech Mahindra and HCL Technologies managed to close in positive territory despite the broader market weakness.
The broader market also remained under pressure, with the Nifty Midcap Index falling 1.33% and the Nifty Smallcap Index declining 0.85%.
Sector-wise, metal and oil & gas stocks were among the worst performers, with the Nifty Metal and Nifty Oil & Gas indices dropping by as much as 2%.
Meanwhile, crude oil prices remained elevated, with a barrel of crude trading around $92. The Indian rupee was quoted at 95.05 against the US dollar, reflecting continued pressure on the domestic currency.
Market participants will closely monitor global economic developments, crude oil price movements, foreign institutional investor activity, and currency trends for further direction in the coming trading sessions.
