Market loses ₹11 lakh cr as discretionary sectors face pressure
Dalal Street saw ₹11 lakh cr wiped out in three sessions following PM Modi's remarks on fuel conservation and spending. The BSE Consumer Discretionary index fell over 3%, reflecting heightened pressure on discretionary sectors.
after close1 source ↓written by the desknot a recommendation
- in investor wealth
- ₹11 lakh cr
- 11 May
- was lost
- ₹6 lakh cr
- index fell
- 3%
- index dropped
- 4%
In just three trading sessions, ₹11 lakh cr in investor wealth has been wiped out from Dalal Street following PM Modi’s remarks on fuel conservation and foreign travel. On 11 May, ₹6 lakh cr was lost amid panic selling, particularly impacting discretionary sectors.
• BSE Consumer Discretionary index fell over 3%
• Nifty Consumer Durables index dropped nearly 4%
Traders are repositioning as momentum indicators weaken significantly.
Not investment advice. For informational purposes only.