In this episode, we break down the sharp fall that the Indian equity benchmarks—Sensex and Nifty—saw on 24 January, logging in their worst decline in two months.
Sensex crashed over 2,000 points to 56,984 while Nifty 50 plunged over 500 points to 16,998. This is the sixth continuous day of this downward spiral, wiping more than Rs 17.54 trillion of investors' wealth.
And some of the biggest losers in the dip are actually the new stock listings like Paytm, Nykaa and Zomato. Zomato plunged 20 percent, while Nykaa lost 13 percent. And stocks of Paytm have already plunged more than 50 percent since its IPO.
So what is causing this crash? And what should you as a retail investor do?
Joining me today is Niraj Shah, who is the Markets Editor at Bloomberg Quint.