Stock Market Hits 9-Month Low, Investors Lose ₹91,00,00,00,00,00,000 in 5 Months

Mumbai, February 28: The Indian stock market witnessed a sharp sell-off today, reaching a 9-month low, with mid-cap and small-cap indices hitting their lowest levels in a year. This downturn has resulted in substantial losses for investors, with a staggering ₹91.13 lakh crore wiped out over the past five months.

Major Indices Decline

On the last trading day of February, key indices saw a steep decline:

• Nifty dropped 420 points, closing at 22,124.
• Sensex plunged 1,414 points, settling at 73,198.
• Nifty Bank fell 399 points, ending at 48,344.
• Indian Rupee closed at ₹87.50 against the US dollar.

This marks the first time since 1996 that the Nifty has recorded losses for five consecutive months.

Sectoral Performance: All in Red

All sectoral indices ended in the red, with notable declines in:

• IT and Telecom sectors: Dropped over 4%, impacted by Nvidia’s disappointing results and concerns over a potential U.S. recession.
• BSE Midcap and Smallcap indices: Declined by more than 2%.

Market Capitalization Drops by ₹8.82 Lakh Crore

The total market capitalization of companies listed on the Bombay Stock Exchange (BSE) fell to ₹384.28 lakh crore, down from ₹393.10 lakh crore recorded on the previous trading day, February 27. This represents a ₹8.82 lakh crore drop in investors’ wealth in a single day.

Losses in the Last Five Months

The Indian stock market has seen massive capital erosion over the past five months:

• February – ₹40.80 lakh crore
• January – ₹17.93 lakh crore
• December – ₹4.73 lakh crore
• November – ₹1.97 lakh crore
• October – ₹29.63 lakh crore

Total Loss: ₹91.13 lakh crore (Source: BSE)

Top Losing Stocks

Out of the 30 stocks in the Sensex, 29 closed in the red. The biggest losers included:

• IndusInd Bank: -7.02%
• Tech Mahindra: Significant decline
• Bharti Airtel: Major loss
• Mahindra & Mahindra: Notable drop
• Tata Motors: Declined sharply

Only Gainer: HDFC Bank

Amid the widespread sell-off, HDFC Bank was the only stock in the Sensex to close in the green, gaining 1.79%.

With increasing global recession fears, disappointing tech sector earnings, and ongoing market volatility, investors remain cautious about the near-term outlook.