Today is a bad day for the global and Asian stock markets, because the market crashed due to a single news. A big decline is also being seen in the Indian stock market. Nifty is trading 120 points down at 26,072, while Sensex is down 380 points at 85,250. Nifty Bank fell 430 points. This huge fall in the stock market has wiped out the wealth of investors amounting to approximately ₹ 3.50 lakh crore. BSE market capitalization, which stood at ₹476.41 lakh crore on November 20, has now reached ₹473 lakh crore. Of the top 30 BSE stocks, 22 are trading down, while 8 are trading slightly up. Shares of Tata Steel, Adani Ports, Zomato and ICICI Bank fell more than 1% each, while Mahindra & Mahindra shares rose 1.34% and Maruti shares rose 0.30%.
On BSE, 132 stocks hit upper circuit and 133 hit lower circuit. Of the 3,882 stocks, 1,160 are trading up, while 2,531 are trading down. There is no change in 191 stocks. 67 stocks are trading at 52-week high, while 158 are trading at 52-week low.
Why did the stock market fall today?
The biggest reason was a rise in US jobs data, which reduced expectations of a Fed rate cut in December. This led to a sharp decline in global and Asian markets. Asian markets fell, with South Korea’s Kospi falling more than 3 percent, and Japan’s Nikkei 225 falling more than 2 percent. Overnight, US markets closed lower, with the Nasdaq Composite falling 2.15 per cent, the S&P 500 falling 1.56 per cent and the Dow Jones Industrial Average falling 0.84 per cent.
Which stocks fell the most?
Shares of Banco Products and JP Power were the biggest losers, falling more than 5 percent. After this, shares of Gentech, Garden Reach Shipbuilders, Hitachi, Vishal Mega Mart, BDL and JSW Energy fell by more than 2 percent.
