Evening Walk Down D-Street on Feb 18, '19 | Chat with Ritesh Ashar of KIFS Trade Capital

A manic Monday for D-Street as bears pushed the index deep in red for the 7th consecutive day in a row on Monday which resulted in the erosion of over Rs 6 lakh crore of the market capitalisation of investors on the BSE.

The average market capitalisation of BSE listed companies fell from Rs 142.74 lakh crore recorded on 7th February when Sensex hit an intraday high of 37,172 to Rs 136.33 lakh crore on 18 February.

The last time when Sensex fell for 7 consecutive days in a row was back in January 2018. The index fell from January 30 to February 7th, 2018.

In terms of technical both Sensex and Nifty slipped below their crucial support levels. The Nifty50 index broke below 100-days moving average (DMA), as well as 10,650 and the next big support is placed at 10,550, suggest experts.