Stock Market today: The stock market closed on Monday with the biggest fall in two months. Due to this, investors suffered a loss of Rs 3.57 lakh crore. So has the decline in the domestic stock market now started?
Stock Market today: The stock market closed with the biggest fall in two months on Monday under the pressure of profit booking at higher prices amid the announcement of China’s stimulus package. Due to this, investors suffered a loss of Rs 3.57 lakh crore. So has the decline in the domestic stock market now started? What was the reason for the fall of Sensex-Nifty and is it the right time to buy? Let’s find out…
Why did the market fall?
BSE’s benchmark index Sensex fell 1,272.07 points or 1.49 percent to close at 84,299.78. During trading, it fell 1,314.71 points or 1.53 percent to 84,257.14. According to experts, there was a decline in the shares of major companies in the domestic stock markets due to selling pressure amid increasing tensions in West Asia and weak trend in the Japanese market. With this, the market cap of BSE listed companies declined by Rs 3,57,885.53 crore to Rs 4,74,35,137.15 crore.
Also read: Rules related to PPF, Aadhaar and insurance changed from today October 1
5 main reasons for decline
1. Increasing tension in the Middle East
2. Sharp decline in Japan’s stock market
3. There is a possibility of foreign investments going there due to China’s new incentive package.
4. Nervousness before second quarter results
5. Profit booking at higher levels
Sensex can go up to one lakh: Mark Mobius
Germany’s emerging markets fund manager Mark Mobius expects the Sensex to touch the one lakh mark by the end of this year. He says that due to long-term bullish market trend, this figure can be achieved by December 2024. He advised investors to buy on dips if needed.
Mark Mobius estimates that the Sensex could reach one lakh by the end of the year, despite a possible temporary decline due to SEBI’s directions on futures trading. He said, the slowdown in the market is temporary, SEBI’s measures will not stop the rise in Indian stocks.
(Disclaimer: The recommendations, suggestions, views and opinions of the experts are their own and not those of . The information given here is only about the performance of the shares and is not an investment advice. Investing in the stock market is subject to risks and investment Consult your advisor first.)
