Sensex crashes 1,024 points to close at 57,621, investors lose 3 lakh crore

The Indian equities markets benchmark Sensex slumped 1023 points on Monday due to heavy selling by foreign institutional investors (FIIs) amid rise in crude oil prices and weakness in global stock markets.The 30 stock S&P BSE Sensex slumped 1023.63 points or 1.75 per cent to close at 57,621.19 points,  while the Nifty 50 declined 302.70 points (1.73 per cent) to end at 17,213.60. Both the indices had opened over 0.25 per cent lower earlier in the day and slipped further as the trade progressed. During the intaraday trade, the Sensex hit a low of 57,299.05 while the broader Nifty slipped to 17,119.40.

On the Sensex pack, HDFC Bank was the top loser of the day slipping over 3.6 per cent, followed by Larsen & Toubro (L&T), Bajaj twins – Bajaj Finance and Bajaj Finserv, Housing Development Finance Corporation (HDFC) and Kotak Mahindra Bank. On the other hand, Power Grid Corporation of India, NTPC, Tata Steel, State Bank of India (SBI) and Ultratech Cement ended higher.Due to the fall of the last three trading days, investors have lost about Rs 6.7 lakh crore. The market value of all BSE listed shares fell to Rs 264 lakh crore today as against Rs 270 crore on February 2 with investors losing 3 lakh crore only today.The market cap of TCS rose by Rs 46,016.2 crore to Rs 14,11,058.63 crore.HDFC Bank's market valuation stood at Rs 8,44,922.53 crore, up by Rs 33,861.41 crore.Infosys' market position increased by Rs 23,425.29 crore to Rs 7,32,177.06 crore.The market valuation of Bajaj Finance jumped to Rs 4,31,926.08 crore with a profit of Rs 17,226.59 crore. Overall, markets inched lower on Monday, weighed down by financials and auto stocks, while state-owned lenders pushed higher after a batch of strong quarterly results.