Stock Market: Investors suffered a huge loss due to the fall of the stock market, Rs 76,196 crore drowned in one stroke
Highlights
- Investors lost Rs 76,196.54 crore
- Selling in the market amid fears of increasing interest rate
- Sensex closed down at 60,346.97 points
Stock Market: Wednesday’s day in the stock market gave a big loss to the investors. With today’s fall, investors lost Rs 76,196.54 crore. There was a sell-off in the market amid fears of an aggressive rate hike to control inflation.
The 30-share BSE Sensex closed down at 60,346.97 points. Earlier, the market was bullish for four consecutive days. With this, the market capitalization of BSE listed companies i.e. investor wealth came down by Rs 76,196.54 crore to Rs 2,85,94,997.40 crore. The market capitalization on Tuesday stood at Rs 2,86,71,193.94 crore.
Siddharth Khemka, Head of Retail Research, Motilal Oswal Financial Services, said the domestic market showed a firm footing amid a negative trend at the global level. He said that the market opened with a fall of 1.6 percent. But later it improved steadily during trading and finally closed with a marginal decline of 0.4 percent.
Sensex loses 224 points
On Wednesday, the domestic stock markets continued to gain momentum for the last four days and the BSE Sensex closed with a fall of 224 points. Selling in IT and pharma companies amid concerns over aggressive interest rate hike to check high inflation led the market down. The 30-share BSE Sensex fluctuated over 1,200 points. In the end, it closed with a decline of 224.11 points or 0.37 percent. National Stock Exchange’s Nifty is also 66.
It closed at 18,003.75, down 30 points, or 0.37 percent.
Rupee falls 30 paise to 79.47 per dollar
The rupee on Wednesday closed 30 paise lower at 79.47 (provisional) per dollar at the interbank foreign exchange market as the US Consumer Price Index (CPI) data remained higher than expected. The rupee opened at 79.58 against the dollar in the interbank foreign exchange market. After revolving in the range of 79.38 and 79.60 in the day’s trade, it finally closed 30 paise down at 79.47 against the dollar. The rupee had closed at 79.17 per dollar on Tuesday.
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