Indices end in negative, Rs 7.94 lakh cr wiped out

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Chandigarh, July 19

Equity benchmark indices Sensex and Nifty tumbled on Friday as investors rushed to book profits after four days of record-breaking rally and the global sell-off triggered by an IT outage.

The BSE Sensex slumped 739 points, or 0.91 per cent, to end at 80,605, while the Nifty50 tanked 270 points or 1 per cent to end at 24,531.

Notably, the indices had hit record highs of 81,588 and 24,855, respectively, in the morning trade.

According to analysts, domestic benchmark indices began higher on Friday, buoyed by positive results from IT giant Infosys. As a result, the Nifty registered a new record high of 24,854.80, but subsequently experienced heavy profit booking and concluded the day negatively at 24,531 levels.

The broader market indices, Nifty Midcap 100 and Nifty Small Cap 100, underperformed and closed down by more than 2 per cent.

Investors’ wealth diminished by Rs 7.94 lakh crore on Friday as markets tumbled after a record-breaking rally. Tracking the bearish trend in equities, the market capitalisation of BSE-listed firms eroded by Rs 7,94,059.53 crore to Rs 4,46,38,826.75 crore (USD 5.34 trillion).