HDFC Bank takes a hit of Rs 1L cr in market bleed

January 17, 2024 17:27

KBK Infographics

Benchmark Sensex nosedived 1,628 points or 2.23 per cent on Wednesday, marking its biggest single-day slide in more than one-and-a-half years following an intense sell-off in banking, metal and oil shares triggered by weak global trends.

The 30-share BSE Sensex plunged 1,628.01 points or 2.23 per cent to settle at 71,500.76 with 24 of its constituents ending in the red.

During the day, it plummeted 1,699.47 points or 2.32 per cent to a low of 71,429.30. The Nifty tanked 460.35 points or 2.09 per cent to settle at 21,571.95, falling for the second day in a row.

Key stock indices suffered their worst single-day losses in percentage terms since June 13, 2022.

HDFC Bank was the major drag, falling more than 8 per cent to emerge as biggest loser after its third quarter financial results failed to meet market expectations. Its market valuation took a hit of more than Rs 1 lakh crore.

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