Stock Market News: In the domestic stock market, on Monday, there was the biggest fall in any single day in nearly two months. The BSE Sensex plunged 1546 points to fall below the 58,000 mark due to all-round selling in the domestic market amid a weak trend globally. Yesterday’s day also proved to be very bad for the global markets and the American market also fell heavily.
The market cap of companies fell by Rs 9.13 lakh crore
In the fall of the market yesterday, the Sensex closed down 1546 points and with this the market cap of the companies has decreased by Rs 9.13 lakh crore. This is the biggest fall in the Sensex and Nifty in a single day since November 26 last year. This is the fifth consecutive trading session when the market has come down.
Yesterday there was a fall of more than 2000 points in the Sensex
The BSE Sensex started with a fall and at one time it had broken more than 2050 points to the level of 56,984 points due to selling pressure. But later there was some improvement in it and in the end it closed at 57,491.51 with a fall of 1545.67 points or 2.62 percent. Similarly, the Nifty of the National Stock Exchange closed at 17,149.10 with a dive of 468.05 points or 2.66 per cent.
Selling seen in these shares
Tata Steel’s stock was the biggest loser, falling about six per cent. Apart from this, the shares of Bajaj Finance, Wipro, Tech Mahindra, Titan, Reliance Industries and HCL Tech were also mainly in the loss.
How was the global market
Talking about the US markets, within a few minutes of opening of business yesterday, the benchmark index S&P 500 had seen a fall of 1.5 percent. On the other hand, the Nasdaq Composite was down about 1.7 percent, while the Dow Jones Industrial Average was trading down about 1 percent. In Asia markets, Hong Kong’s Hang Seng, South Korea’s Kospi were in losses, while Japan’s Nikkei and China’s Shanghai Composite were in the green. There was a decline in trading in the major markets of Europe. Meanwhile, the international oil standard Brent crude rose 0.32 percent to $ 88.17 per barrel.
What is the reason for the fall in the markets
Indian markets are under heavy pressure from last few days. It has come down 7 per cent from the recent high, the fall is all-round. The decline is more acute in new age companies with recent IPOs. There is concern about inflation in the global markets. At the same time, there is also concern about the US Federal Reserve raising the policy rate, due to which the domestic markets have come down along with the fall in other major markets of the world.
Vinod Nair, Head of Research, Geojit Financial Services, said selling in global markets, weak third quarter financial results and pre-budget panic led to heavy selling in the domestic market. The market sentiment has been adversely affected ahead of the meeting of the FOMC (Federal Open Market Committee) from tomorrow. Investors are awaiting the outcome of the two-day meeting of the FOMC. It is expected that the Federal Reserve will give a clear signal about the increase in the policy rate.
Other market data
The rupee exchange rate fell 17 paise to close at 74.60 against the US dollar. According to stock market data, Foreign Institutional Investors (FIIs) were net sellers in the capital market. He sold shares worth Rs 3,148.58 crore, due to which the pressure on the market has increased.
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