PB Fintech’s stock price collapsed 35% in a single session, shedding ₹30,000 crore in market value—its most dramatic one‑day fall yet. The hit came as the Nifty slipped under 23,100, closing at a five‑month low of 23,063.
FIIs reversed course, offloading ₹5,027.36 crore on Thursday after a ₹1,617.45 crore net purchase the day before. Tuesday had seen a ₹3,809.99 crore sell‑off, so the Thursday dump represents a swing of roughly ₹6.8 crore more than the prior day's outflow.
Domestic institutional investors countered the sell‑off, net buying ₹4,301.18 crore—up from ₹2,341.46 crore the previous day. Despite that, the Sensex fell 1,248 points to 73,581 and the Nifty Bank index slid 1,110 points to 55,439.
Insurance stocks collectively lost ₹1.25 lakh crore in market capitalisation, with PB Fintech alone accounting for ₹30,000 crore of the loss. Other top losers included Bajaj Finance, HDFC Life, Bajaj Finserv and Axis Bank, each falling 4‑6% as banks with higher bancassurance exposure also declined.
Analysts caution that IRDAI’s pending proposals could still weigh on the insurance sector, and the Nifty may test the 23,000 support level before any rebound. FIIs are watching global cues closely, and a shift in sentiment could prompt a return to buying if conditions improve.