Terrifying Tuesday: Sensex, Nifty crashes over 8%

Market capitalization of BSE listed firms dropped by Rs 31 lakh crore to Rs 395.22 lakh crore. The market cap of these companies surged by record Rs 14 lakh crore to Rs 425.. 9 lakh crore on Monday.

Benchmark indices, Sensex and Nifty crashed over 8 per cent in afternoon trades after the opposition INDIA bloc seat count improved compared to exit poll predictions.

The Sensex crashed 6219.6 points, or 8.13 per cent, to an intraday low of 70,234.43. The broader Nifty also declined 1982 points, or 8.52 per cent to 21,281.45.

Market capitalization of BSE listed firms dropped by Rs 31 lakh crore to Rs 395.22 lakh crore. The market cap of these companies surged by record Rs 14 lakh crore to Rs 425.. 9 lakh crore on Monday.

All stocks of public sector companies got hammered. Nifty PSE and Nifty CPSE indices plummeted 18.14 per cent and 17.27 per cent, respectively. India VIX surged 42.2 per cent to an all-time high of 29.78. The fear index had fallen 15 per cent to 20.94 on Monday.

Among the 30 BSE Sensex, 28 firms slipped into red, with Power Grid Corporation, State bank of India and NTPC declining 11.76 per cent, 13.82 per cent and 14.2 per cent, respectively.

Reliance Industries fell 7.34 per cent to Rs 2809.2 apiece on the BSE. Adani Adani Enterprises declined 18.55, Adani Ports fell 21.09 and Adani Power dropped 15 percent.