Business News Desk – A period of recession seems to be beginning in the Indian stock markets. The markets, which were witnessing continuous selling, closed with heavy losses on Wednesday also. This is the 5th consecutive day of decline in the market. Nifty has fallen to its lowest level in 4 and a half months. In closing, Nifty fell 324 points and closed at 23,559. Sensex fell 984 points to 77,690 and Nifty Bank fell 1069 points to 50,088. Even today the market cap of the market was Rs 43,853,342 crore, which has come down to Rs 4,30,24,949 crore in today’s trading, which means investors have suffered a loss of Rs 8,28,393 crore.
Which 10 stocks saw the biggest decline?
Hero MotoCorp suffered the biggest loss on Nifty. The stock closed with a decline of more than 4 percent. Whereas, M&M, Hindalco, Tata Steel, Eicher Motors, Adani Ports, BEL, Shriram Finance, Bajaj Auto and JSW Steel registered gains. At the same time, Britannia, Grasim, Tata Motors, Asian Paint, NTPC, Indosys, HUL, Trent, Wipro and ITC managed to register strength in the market decline.
In early trade, the Sensex closed at 78,495, down 180 points from its previous close. Nifty fell 61 points to 23,822 and Bank Nifty fell 127 points to 51,030. Bharti Airtel, IndusInd Bank, HDFC Bank, Wipro, Titan registered the biggest gains on Nifty. Whereas, the biggest decline was recorded in BEL, Hero MotoCorp, M&M, Maruti, Tata Steel.
In Asian markets, Japan’s Nikkei, China’s Shanghai Composite, South Korea’s Kospi and Hong Kong’s Hang Seng were in loss. On Tuesday, American markets closed with a negative trend. International benchmark Brent crude rose 0.35 per cent to $72.14 per barrel. According to stock market data, foreign institutional investors (FIIs) were sellers on Tuesday and sold shares worth Rs 3,024.31 crore.
