The Indian stock market witnessed its third consecutive session of strong losses on Friday, 24 April, with both benchmark indices suffering significant declines. According to reports from Mint, the Sensex crashed more than 800 points, or 1%, to an intraday low of 76,829, while the Nifty 50 plunged by 1% to the day's low of 23,944. This continued the downward trend that has persisted for three consecutive trading sessions, with the latest session showing continued selling pressure across major equity indices.
The market selloff has resulted in substantial wealth destruction for investors over the three-day period. As reported by Mint, investors lost more than ₹4 lakh crore during the Friday session alone, with the overall market capitalisation of BSE-listed firms dropping to ₹462 lakh crore from ₹466 lakh crore in the previous session. The cumulative impact of these losses shows that investors have become poorer by ₹7 lakh crore in three days, as the cumulative market capitalisation of BSE-listed firms stood at ₹469 lakh crore on 21 April. This represents a significant erosion of investor wealth across the Indian equity markets during this concentrated period of selling pressure.
The sustained market decline over the three-day period has been particularly severe, with both major indices experiencing significant corrections. According to Mint reports, in just three consecutive sessions, the Sensex has plunged more than 2,400 points, or 3%, while the NSE barometer Nifty 50 has crashed 2.6%. This represents a substantial erosion of investor wealth across the Indian equity markets during this concentrated period of selling pressure, with the latest session continuing the downward momentum that has characterized recent trading sessions.
