Dalal Street Plunges Amid Market Volatility

Monday saw stock investors suffer significant losses as key indices fell to over seven-month lows. Widespread selling due to US trade policy uncertainty wiped Rs 9.28 lakh crore off market wealth. Key players like HCL Tech and Tata Motors dropped, while ICICI Bank rose on strong earnings.

Stock investors were hit hard on Monday, with key indices plunging to more than seven-month lows. Widespread selling caused by uncertainty over US trade policy wiped Rs 9.28 lakh crore from market wealth.

The BSE's market capitalisation dropped Rs 9,20,654.51 crore to USD 4.75 trillion. The 30-share BSE index fell by 824.29 points or 1.08%, closing at levels unseen since June 2024.

Volatility was fueled by concerns over slowing corporate earnings and fiscal policy. Geopolitical tensions and active foreign investor selling compounded the decline, with sectors like telecommunication and IT heavily affected. Conversely, ICICI Bank gained 1.39% on strong quarterly results.

(With inputs from agencies.)