Trent, Tech Mahindra, M&M, IndusInd Bank, Axis Bank were the biggest losers in Nifty.
There was chaos in the domestic stock market on Friday. Bombay Stock Exchange (BSE) benchmark Sensex fell 1176.46 points in the last trading session of the week and closed at the level of 78,041.59. Similarly, Nifty of National Stock Exchange also closed at the level of 23587.50 with a big fall of 364.2 points. Investors suffered huge losses today due to the huge fall in the market. Let us tell you that the market cap of companies listed on BSE was Rs 4.49 lakh crore on December 19, which came down to Rs 4.40 lakh crore on December 20. In this way investors lost Rs 9 lakh crore in one day.
These stocks failed in today’s trading
In Nifty, Trent, Tech Mahindra, M&M, IndusInd Bank, Axis Bank were the biggest losers, while Dr. Reddy’s Labs, Nestle India, ICICI Bank were the gainers. All sectoral indices closed in the red. In this, realty index declined by 4 percent, auto, IT, capital goods, metal, telecom, PSU bank declined by 2 percent each. BSE Midcap and Smallcap indices recorded a decline of more than 2% each. Nifty IT was the biggest laggard, falling more than 2 percent. Additionally, Accenture’s strong first-quarter earnings also failed to boost sentiment.
Investors lost ₹18 lakh crore in five days
The reason for today’s fall in the market is the sharp increase in selling by FIIs. The decline was seen for the fifth consecutive session. Investors have lost ₹18 lakh crore in losses in the last five days, as the total market capitalization of BSE-listed firms stood at ₹459 lakh crore on Friday, December 13.
All major sectoral indices on NSE declined on December 20. Nifty Realty fell 4 per cent, while PSU bank and IT indices fell around 3 per cent. Nifty Metal, Media, Auto and Nifty Bank indices fell by up to 2 percent.
Today’s situation in world markets
A decline was seen in the global stock market on Friday. Britain’s FTSE 100 fell 0.3% to 8,078.21 and the CAC 40 in Paris fell 0.9% to 7,226.70. Germany’s DAX fell 0.9% to 19,780.63. S&P 500 futures were down 0.4% and the Dow Jones Industrial Average was down 0.2%. Tokyo’s Nikkei 225 index fell 0.3% to 38,701.90 after the release of November inflation data on Friday. The Hang Seng in Hong Kong rose 0.2% to 19,720.70, while the Shanghai Composite Index fell 0.1% to 3,368.07, as China’s central bank kept its lending prime rates unchanged on Friday.
Australia’s S&P/ASX 200 fell 1.2% to 8,067.00. South Korea’s Kospi fell 1.3% to 2,404.15. On Thursday, the S&P 500 lost 0.1%. The Dow Jones Industrial Average rose less than 0.1%, while the Nasdaq Composite lost 0.1%.
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