The Indian stock market experienced a severe selloff on Monday, 11 May, with both benchmark indices declining by more than 1% during the trading session. According to reports from Mint, the 30-share BSE Sensex crashed almost 1,000 points to an intraday low of 76,364, while the NSE Nifty 50 plunged more than 1% to the day's low of 23,896. The broader market indices also participated in the decline, with the BSE 150 Midcap and 250 Smallcap indices falling by up to 1% during the session.
The market decline resulted in significant wealth erosion for investors across the board. As reported by Mint, the overall market capitalisation of BSE-listed firms dropped to nearly ₹469.5 lakh crore from ₹473.5 lakh crore in the previous session. This ₹4 lakh crore decline in market capitalisation occurred within minutes of the market opening, making investors poorer by approximately ₹4 lakh crore during the trading session.
The strong wave of selling pressure that engulfed the Indian stock market on Monday represents a significant shift in investor sentiment. According to Mint, the decline affected both large-cap and mid-cap segments of the market, indicating broad-based selling pressure across different market capitalisation levels. The substantial wealth erosion within minutes highlights the volatility and speed at which market movements can occur during periods of heightened uncertainty.
