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Taking Stock: D-St gives stimulus packages a thumbs down; Sensex cracks 1,000 points

From a technical point of view, the Nifty50 index recorded a breakdown on the daily charts, which suggests that pressure could remain in the near term.

May 18, 2020 / 06:24 PM IST

It was a Manic Monday on D-Street! The bears took control from the word go and the selling only got extended as the session progressed.

Unimpressed by the stimulus package from the government, investors dumped financials along with auto and real-estate stocks.

Investors lost by Rs 3 lakh crore in terms of market capitalisation on the BSE. The average market capitalisation of the BSE-listed companies dropped from Rs 122.66 lakh crore on May 15 to Rs 119 lakh crore as May 18.