Investor wealth, as suggested by the BSE m-cap, fell Rs 8.98 lakh crore to Rs 444.66 lakh crore compared with a valuation of Rs 453.65 lakh crore recorded in the previous session. Frontline stocks such as Reliance Industries Ltd (RIL), HDFC Bank Ltd, Mahindra & Mahindra, SBI, L&T, TCS, Tata Motors, Axis Bank, Kotak Mahindra Bank and Maruti Suzuki India contributed to the fall today.

Due to weakness in every industry, Indian market benchmarks fell precipitously in Tuesday’s final trading session. While the NSE barometer Nifty fell below 24,500, the BSE Sensex pack fell more than 900 points. The 30-pack Sensex has dropped 902 points, or 1.11 percent, to 80,249 at 3:10 p.m. At 24,471, the NSE benchmark fell 310 points, or 1.25 percent. The decline in the domestic indexes was so severe that the BSE market capitalisation (m-cap) was wiped away at a rate of almost Rs 8.9 lakh crore.

According to the BSE m-cap, investor wealth decreased by Rs 8.98 lakh crore to Rs 444.66 lakh crore from a valuation of Rs 453.65 lakh crore in the previous session. Leading stocks that contributed to today’s decline included Reliance Industries Ltd. (RIL), HDFC Bank Ltd., Mahindra & Mahindra, SBI, L&T, TCS, Tata Motors, Axis Bank, Kotak Mahindra Bank, and Maruti Suzuki Industry.

Here are the factors behind todays market fall:

1 PROFIT BOOKING : “After a spectacular recent run-up, domestic stocks have seen profit booking. Investor mood has been affected by signs of a medium- to short-term economic weakening, according to WealthMills Securities’ Director of Equity Strategy Kranthi Bathini. “The Indian market is a ‘buy-on-dip’ market from a longer-term perspective,” the market analyst continued. When market valuations are at elevated levels some triggers will cause corrections, making the valuations reasonable and in tune with long-term averages,” said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

2 FII SELLING :In October, foreign institutional investors (FIIs) smashed all previous records by selling the most shares in a single month. According to NSDL statistics, sustained selling by FIIs reached Rs 88,244 crore by October 21. The opposing action of persistent domestic institutional investor (DII) buying was this record-high FII sell figure. According to exchange data, FIIs sold off Rs 2,261.83 crore worth of shares on a net basis during the previous session, while DIIs bought Rs 3,225.91 crore worth of equities.

3 ASIAN STOCKS : The majority of Asian markets saw decreased trading on the world stage. South Korea’s Kospi index fell 1.31%, while Japan’s Nikkei fell 1.39%. The Shanghai Composite index increased by 0.54% while Hong Kong’s Hang Seng remained essentially steady.