Stock market crash: The Indian stock market suffered significant losses in the early trade, with the Sensex falling over 700 points and the Nifty 50 plunging to a level below 23,250 amid weak global cues.
Sensex opened at X against its previous close of 77,505.96 and slipped over 700 points to the level of 76,791.09. The Nifty 50 opened at 23,319.35 against its previous close of 23,482.15 and plunged by a per cent to 23,246.55.
Around 9:20 AM, the Sensex was 671 points, or 0.87 per cent, down at 76,835 and the Nifty 50 was 219 points, or 0.93 per cent, down at 23,263.
The overall market capitalization of the BSE-listed firms dropped to nearly ₹419 lakh crore from ₹424 lakh crore in the previous session, making investors lose about ₹5 lakh crore within 5 minutes.