Investors faced a massive loss of over ₹3 lakh crore on the final trading day of September, following a sharp downturn in Indian stock markets. The Sensex plunged by more than 1,250 points, while the Nifty dropped over 360 points. Reliance Industries, along with IT and banking stocks, led the market decline. Market capitalization decreased by ₹3.55 lakh crore, bringing it down to ₹474.38 lakh crore. Major companies like Reliance Industries, ICICI Bank, HDFC Bank, Axis Bank, Infosys, M&M, Bharti Airtel, SBI, and ITC were hit hardest.
The downturn was triggered by several global factors, including rising crude oil prices, escalating tensions from Israel’s airstrikes on Lebanon, anticipation over the US Federal Reserve’s upcoming actions, and the Bank of Japan’s interest rate hikes. Additionally, China’s government announced a special economic recovery plan, prompting investors to shift their focus towards Chinese markets. Despite the sell-off on the last day of September, foreign investors poured ₹57,000 crore into Indian markets over the month, signaling strong underlying confidence.”