Markets
Sensex snaps its winning streak, falls 876 points as oil tops $108
Private banks and IT shares led the fall; investors lost about ₹5.5 lakh crore in a day
- −876 Sensex points, to 73,852.90
- ₹5.54 lakh cr investor wealth wiped out
- $108+ Brent crude a barrel
By Business Desk · 1 min read
The Sensex fell 876.38 points, or 1.17%, to 73,852.90 on Monday, ending a two-day rally. The Nifty 50 lost 257.20 points to close at 22,888.95.
Selling in private banks and IT shares led the fall, while Brent crude traded above $108 a barrel, raising worries about India's import bill and inflation. Only PSU bank shares rose, up 2.46%.
Smaller companies fared worse: the midcap and smallcap indices each fell more than 1%, and more than three shares fell for every one that rose. The value of BSE-listed companies dropped by about ₹5.54 lakh crore.
Source: 5paisa, HDFC Sky