Today was a bad day for the global and Asian stock markets, as the market crashed due to a single news. A big decline was also seen in the Indian stock market. Nifty fell 124 points to close at 26,068, while Sensex fell 400 points to 85,231. Nifty Bank fell 480 points.
This huge fall in the stock market wiped out the wealth of investors amounting to approximately ₹ 4.50 lakh crore. BSE market capitalization, which was ₹476.41 lakh crore on November 20, has now fallen to ₹472 lakh crore. Of the top 30 BSE stocks, 17 declined, while 13 saw marginal gains. Shares of Tata Steel, Bajaj Finance, Adani Ports, Zomato and ICICI Bank remained under pressure, while Maruti Suzuki rose 1.17% and Mahindra & Mahindra rose 0.80%.
Lower circuit in 195 shares
On BSE, upper circuit was imposed on 165 shares and lower circuit was imposed on 195 shares. Of the 4,333 shares, 1,281 shares were trading up, while 2,896 shares were trading down. There was no change in 161 shares. 87 shares were at 52-week high, while 225 shares were at 52-week low.
Why did the stock market fall today?
The biggest reason was a rise in US jobs data, which reduced expectations of a Fed rate cut in December. This led to a sharp decline in global and Asian markets. Asian markets fell, with South Korea’s Kospi falling more than 3 percent and Japan’s Nikkei 225 falling more than 2 percent. Overnight, US markets closed lower, with the Nasdaq Composite falling 2.15 per cent, the S&P 500 falling 1.56 per cent and the Dow Jones Industrial Average falling 0.84 per cent.
Which stocks fell the most?
Among the biggest falling stocks, Banco Products fell by 8.5 percent and JP Power fell by more than 7.55 percent. Shares of Gentech, Garden Reach Shipbuilders, Hitachi, Vishal Mega Mart, BDL and JSW Energy fell more than 3 percent.
