Business News Desk – The first trading session of the week has proved to be Black Monday for the Indian stock market. Due to heavy selling by foreign investors, the Indian stock market has closed with heavy selling for the sixth consecutive trading session. Banking, energy, consumer durables stocks have been hit the most. Heavy decline was recorded in midcap and smallcap stocks in today’s trading. At the end of today’s trading, BSE closed at 81050 points with a fall of 638 points, while the National Stock Exchange’s Nifty closed at 24,817 points with a fall of 198 points.
Sectoral Update
Banking and energy stocks have been hit the most in today’s trading. Nifty Bank closed with a decline of 837 points or 1.63 percent. Whereas Nifty’s Energy index closed with a decline of 2.52 percent i.e. 1050 points. Apart from this, shares of Auto, FMCG, Metal, Media, Healthcare, Oil & Gas and Consumer Durables sectors closed with losses. Nifty Midcap index also closed with a fall of 1170 points or 2 percent and Nifty Smallcap index closed with a fall of 495 points or 2.75 percent. Only some greenery was seen in IT sector shares.
Investors lost Rs 9 lakh crore
Investors have suffered huge losses due to all-round selling in the stock market. The market cap of shares listed on BSE closed at Rs 452.20 lakh crore, which was Rs 460.89 lakh crore in the previous session. In today’s trading, investors’ wealth has suffered a blow of Rs 8.69 lakh crore.
rising and falling shares
In today’s trading, out of 30 Sensex shares, 7 shares closed with gains while 23 shares closed with decline. Out of 50 Nifty stocks, 10 closed with gains and 40 with decline. Among the gainers, Mahindra & Mahindra closed with gains of 1.46%, ITC 1.40%, Bharti Airtel 1.31%, Infosys 0.80%, Bajaj Finance 0.74%, TCS 0.26%, Tech Mahindra 0.14%. Adani Ports closed with a fall of 4.08%, NTPC 3.50%, SBI 2.96%, Power Grid 2.92%, IndusInd Bank 2.43%.