Sensex crashes 1,024 points, Nifty ends below 17,250-mark as financials, banks, FMCG stocks drag

 The S&P BSE Sensex ended at 57,621.19, down 1,023.63 points (1.75 per cent), while the Nifty 50 settled at 17,213.60, down 302.70 points (1.73 per cent).

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NEW DELHI: A poor day for equities ended with three of every five stocks settling lower amid concerns over rising inflation, a likely policy tightening and persistent foreign outflows.

Over 300 stocks hit their lower circuit limits, as investors lost about Rs 2.9 lakh crore worth of wealth for the day.
With this third straight session of Dalal Street fall, returns of both Sensex and Nifty50 have turned negative for 2022.
The BSE Sensex settled the day at 57,621.19, down 1023.63 points or 1.75 per cent. The index has fallen 1,937 points in the last three days. Nifty50 closed the day at 17,213.60, down 302.70 points or 1.73 per cent. Fear gauge India VIX spiked 8.14 per cent to 20.44, suggesting high volatility in the next 30 days.

The S&P BSE Sensex slipped 1,023.63 points (1.75 per cent) to settle at 57,621.19 while the Nifty 50 declined 302.70 points (1.73 per cent) to end at 17,213.60. Both the indices had opened over 0.25 per cent lower earlier in the day and slipped further as the trade progressed. During the intaraday trade, the Sensex hit a low of 57,299.05 while the broader Nifty slipped to 17,119.40.

On the Sensex pack, HDFC Bank was the top loser of the day slipping over 3.6 per cent, followed by Larsen & Toubro (L&T), Bajaj twins – Bajaj Finance and Bajaj Finserv, Housing Development Finance Corporation (HDFC) and Kotak Mahindra Bank. On the other hand, Power Grid Corporation of India, NTPC, Tata Steel, State Bank of India (SBI) and Ultratech Cement ended higher.

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