Stock market crashes: Due to the continued selling pressure in the global market and the fall in the shares of domestic giant Reliance Industries, the trend of decline in the Indian stock markets continued on Monday and the benchmark index Sensex fell by about 365 points. According to experts, the continuation of withdrawal of foreign investors from the Indian stock markets and the rupee coming down to the lowest level against the dollar also affected the trading sentiment.
Huge loss to investors
The 30-share index BSE Sensex closed at 54,470.67, down 364.91 points, or 0.67 per cent, at the end of trading. At one point during the trading, it had slipped by 917.56 points to 53,918.02 points. Similarly, the Nifty of the National Stock Exchange also fell 109.40 points, or 0.67 percent, to 16,301.85. Earlier on Friday, the market had broken more than a thousand points. Due to the fall in the market on Friday and Monday, there has been a decrease in the wealth of investors by ₹ 7.73 lakh crore.
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Reliance suffered the most
Among the companies included in the Sensex, the giant Reliance Industries suffered a lot. Nestle, IndusInd Bank, Tech Mahindra, Tata Steel, State Bank of India, Hindustan Unilever and ITC also ended in losses. On the contrary, POWERGRID CORPORATION, HCL Technologies, Infosys, Maruti Suzuki and Bajaj Finserv were among the gainers.
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Foreign institutional investors (FIIs) continue to withdraw from the Indian markets. According to the data received from the stock exchanges, FIIs sold shares worth Rs 5,517.08 crore on Friday.