Business News Desk – Selling was seen in the stock market even in the last session of the week. There was a recovery in the market during early trading, but it could not last long. Nifty closed at 3 week low. Nifty slipped below 25,000 intraday, but managed to close above 25,000 on closing basis. On Friday, selling was seen in all sectors except IT. After the fall on Friday, there has been a decline of ₹ 5 lakh crore in the total market capitalization of all the companies listed on BSE. There was a decline of ₹10 lakh crore on Thursday.
In this way, investors have suffered a total loss of ₹ 15 lakh crore in the last 2 sessions. Geopolitical tensions and bullish trend in Chinese markets put pressure on the Indian market on Friday. Nifty and Sensex closed with a fall of about 1%. RIL and HDFC Bank put the most pressure on Nifty. 38 out of 50 Nifty stocks closed in the red. M&M, Nestle India, Hero MotoCorp, Bajaj Finance topped the list of weakest stocks in the index.
At what level did the market close today?
After the entire day’s trading on Friday, the Sensex fell 809 points and closed at 81,688. Nifty fell 200 points and closed at 25,050. Nifty Bank slipped 289 points and closed at 51,556. Nifty Midcap index fell 529 points to close at 58,496.
Which stocks saw action today
There was a rise in the shares of upstream oil companies like ONGC and OIL. At the same time, due to expensive crude oil, there was a decline in downstream oil marketing companies. Even amid weakness in the market, buying was seen in diagnostic shares. Maximum purchases were seen in Dr. Lal Path Labs. M&M Finance and Avenue Supermart remained weak after quarterly trading update. At the same time, Bank of Baroda closed with gains. Bajaj Finance closed 3% lower after weakest AUM growth in 6 quarters. Except P&G, all FMCG stocks closed in the red. There was a weakness of 1-3% in these. ICICI Bank has lost its momentum since September 11.
How was the market this week?
This has been the worst week for the market since June 2022. With this the market has broken its 3 weeks of continuous growth. Nifty has fallen by about 5%. This week, the total market capitalization of all the companies listed on BSE has declined by ₹ 18 lakh crore. Except metal, all other sectors remained weak this week. Nifty Realty has fallen the most by 8%. This week, 46 out of 50 Nifty stocks have seen a decline in just 4 trading sessions. The markets were closed on 2 October (Wednesday) on the occasion of Gandhi Jayanti. On weekly basis, the biggest decline was seen in RIL, Shriram Finance and Hero MotoCorp. At the same time, the biggest decline was seen in Edelweiss Financial, Godrej Properties and M&M Finance from midcap.
