Stock Market: There was a tsunami of decline in the domestic stock market today and the Sensex has closed down by almost 800 points. The weakness of HDFC Bank and Reliance Industries remained the main reason for the market decline.
Stock Market Crash: All-round selling was seen in the domestic stock market on Wednesday. Due to the huge fall of Reliance Industries and HDFC Bank, weakness has prevailed in the stock market and during the trading the Sensex fell by more than 800 points to a low of 66728. Both Sensex and Nifty were trading with a decline of about 1.25 percent. Today, before the US Federal Reserve meeting, panic selling was seen in the Indian stock market due to weak sentiments.
How was the market closing today?
Today a big decline has been seen in the stock market. BSE Sensex closed at 66,800 with a decline of 796 points or 1.18 percent. NSE’s Nifty closed at the level of 19,901, falling 1.15 percent due to a fall of 231.90 points.
Investors lost Rs 2.5 lakh crore
Today the market capitalization of BSE stood at Rs 3,20,65,122.43 crore and at the time of closing it registered a decline of about Rs 2.5 lakh crore as compared to the previous trading session.
Decline in midcap PSU and smallcap PSU
There was a decline in banking stocks today but there was comparatively less decline in midcap PSUs. There was not much movement in power stocks but not much action was seen in power auxiliary stocks. There was not much strong sentiment in sugar stocks and textiles stocks today due to which the markets did not get support from these stocks.
How was the stock market moving at 2.40 pm?
At 2:40 pm, BSE Sensex was trading at the level of 66,831 with a decline of 765.73 points or 1.13 percent. Apart from this, NSE’s Nifty was trading at the level of 19,918 with a decline of 215.30 points or 1.07 percent. Bank Nifty was also seen at the level of 45,390
with a decline of 589.20 points or 1.28 percent.
There was a fall of more than 700 points in Bank Nifty
The major reason behind the market decline was also the decline in Bank Nifty. In today’s trading, Bank Nifty had slipped by 703 points and at present has reached as low as 45,390 i.e. below 45400.
Investors lost more than Rs 3 lakh crore
A huge decline is being seen in the market cap and on September 18, the market cap of the Indian stock market was at Rs 3,23,00,115.59 crore and today it had come down to Rs 3,20,43,114.30 crore. This means that a decline of more than Rs 3 lakh crore in market cap has been seen so far in today’s trading session. In this way, more than Rs 3 lakh crore of investors’ money has been destroyed in today’s falling market.
Only 7 out of 30 Sensex stocks are in green
The situation of the market’s decline is such that out of 30 Sensex stocks, only 7 stocks are showing green growth and 23 stocks are in decline. The highest decline of 3.90 percent is being seen in HDFC Bank and the huge fall of this banking giant has also pulled down the stock market because its weightage is high. JSW Steel is trading down by 2.56 percent and Reliance Industries is down by 2.18 percent. UltraTech Cement has slipped 1.80 percent and Maruti has slipped 1.65 percent. Tata Steel is trading with a decline of 1.46 percent.
40 out of 50 Nifty stocks declined
40 out of 50 Nifty stocks are seen trading in decline and there are only 10 stocks which are managing to trade with a slight rise. HDFC Bank is the top loser of Nifty today which has fallen by 3.91 percent and JSW Steel has slipped by 2.73 percent. Reliance Industries is trading down by 2.19 percent and BPCL is down by 2.11 percent. Dr. Reddy’s Laboratories is trading with a weakness of 2.03 percent.
