Despite such a huge fall in the market, gains were seen in ICICI Bank, Nestle India, Infosys.
Investors in the domestic stock market got a big shock on Tuesday. A tremendous earthquake was seen in the stock market. The effect of this was that the benchmark Sensex of Bombay Stock Exchange (BSE) fell by 931 points and closed at the level of 80,220.72. Nifty of National Stock Exchange (NSE) also fell 309 points today and closed at the level of 24,472.10. The biggest loss on Nifty was in the shares of Adani Enterprises, M&M, Bharat Electronics, Coal India, Tata Steel. Despite such a huge fall in the market, gains were seen in ICICI Bank, Nestle India, Infosys. The total market capitalization of BSE listed companies declined to about ₹444.7 lakh crore from about ₹453.7 lakh crore in the previous session. Due to this, investors lost almost ₹9 lakh crore in a single day.
All sectoral indices closed in the red.
According to the news, all sectoral indices including Auto, Capital Goods, Metal, Power, Realty, Telecom, Media and PSU Bank closed in the red. The BSE Midcap index fell 2.5 percent and the Smallcap index fell 3.8 percent. The BSE Midcap index fell 2.5 per cent and the Smallcap index fell 3.8 per cent.
Why did the market crash so much?
According to Livemint news, experts say that increasing geopolitical tensions, uncertainty over the 2024 US elections and continuous selling by foreign portfolio investors (FPIs) are badly affecting market sentiment. Due to this, the confidence of investors in the market has continuously weakened and they are withdrawing their money. Besides, disappointing September quarter earnings and increased valuation of the Indian stock market are also contributing to the market decline.
Only three stocks closed in the green
Only three stocks in the Nifty 50 – ICICI Bank (up 0.74 per cent), Nestle (up 0.10 per cent) and Infosys (up 0.04 per cent) – closed in the green. Among sectoral indices, Nifty PSU Bank (down 4.18 per cent), Realty (down 3.38 per cent) and Metal (down 3 per cent) were the biggest losers. Nifty Auto, Media, Consumer Durables and Oil & Gas fell more than 2 percent. The Nifty Bank index fell 1.36 per cent, while the Private Bank index fell 0.97 per cent.
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