Stock Market: The last half hour spoiled the game of the stock market, Sensex lost 311 points, lakhs of crores drowned in these stocks

Photo:PTI (FILE PHOTO) stock market

How the game made in a few minutes gets spoiled in the stock market, its view was seen on Thursday. In the domestic stock markets, early gains continued on Thursday due to sharp selling in the last half hour of trading and the BSE Sensex closed with a fall of 311 points. According to traders, the market remained in loss due to selling in IT and bank stocks on the last day of settlement of monthly positions in the futures and options segment.

Play spoiled in the last 30 minutes

The 30-share Sensex remained in profit for almost the entire time of trading. But it closed 310.71 points, or 0.53 percent, down at 58,774.72 points due to sharp selling in the last half-hour. Similarly, the Nifty of the National Stock Exchange lost 82.50 points, or 0.47 per cent, to end at 17,522.45.

These stocks saw the biggest fall

Among the Sensex shares, Bajaj Finance was the biggest loser at 1.81 per cent. Apart from this, PowerGrid, Infosys, Tata Consultancy Services, IndusInd Bank, Axis Bank, NTPC and Larsen & Toubro were also among the losers. Only five stocks Maruti Suzuki, State Bank of India, Dr. Reddy’s, Kotak Mahindra Bank and Titan remained in profit. They gained up to 0.46 percent.

US Fed’s move

Shrikant Chauhan, Head of Equity Research, Kotak Securities Ltd. said, “In view of the uncertain global economic scenario amid volatility, investors sold off positions in the futures and options segment on the last day of settlement. Investors are apprehensive that there will be an emphasis on increasing the policy rate to control inflation in Federal Reserve (US central bank) Chairman Jerome Powell’s address at the Jackson Hole symposium on Friday.

impact on crude oil

Vinod Nair, Head of Research, Geojit Financial Services, said, “Investors around the world are raising the possibility that the Chairman of the Federal Reserve may assess the monetary policy outlook in his address ahead of the Jackson Hole Symposium, indicating that the central What will be the bank’s stand.” He said, “Crude oil prices have gone up. The reason for this is the statement of Saudi Arabia, which says that OPEC (Organization of Oil Exporting Countries) and allies can reduce supply to remove volatility in the market. However, the domestic stock markets outperformed the emerging markets. FII buying is giving direction to the domestic market.

Asian markets shine

In other Asian markets, South Korea’s Kospi, Japan’s Nikkei, Hong Kong’s Hang Seng and China’s Shanghai Composite were among the gainers. Major markets in Europe were bullish in early trade. Wall Street in the US closed with gains on Wednesday. Meanwhile, international oil benchmark Brent crude climbed 0.17 per cent to $101.3 per barrel. The rupee declined by seven paise to close at 79.93 (provisional) against the US dollar. Foreign institutional investors bought shares worth Rs 23.19 crore on Wednesday, according to stock market data.

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Shivam Bangwal

Shivam Bangwal is an Indian based entrepreneur who is a tech, travel and coding enthusiast with a post graduation degree on Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Hitchhike TV, Branding Panther and many more.
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