The stock market had a slow start compared to yesterday’s close but after some time the fall of Nifty Bank accelerated and in no time Nifty Bank fell by 1100 points. At the same time, Sensex was down nearly 700 points at 79,356.47, while Nifty50 was trading at 24,154.40, down 245 points.
Out of 2,659 shares on NSE, only 246 shares were rising, the remaining 2,343 shares were trading in sharp decline. While 70 stocks remained unchanged and 18 stocks traded at 52-week high. It hit a 52-week low of 193 shares. The lower circuit was observed in 198 stocks and 33 stocks were trading in the upper circuit.
This stock fell 18 percent.
Of the top 30 stocks on BSE Sensex, only 11 stocks saw a slight increase, of which ITC stock rose the most at 3.68 per cent. All other stocks were up less than 1 percent. While 19 stocks suffered a huge fall, of which the biggest fall was in INDUSIND Bank shares. IndusInd Bank shares were trading at Rs 1,048 per share, down 18 per cent.
Big drop in these 10 stocks
- IndusInd Bank shares were trading at Rs 1,048 per share, down 18 per cent.
- Among heavyweight stocks, Mahindra & Mahindra was trading at Rs 2,688, down around 5%.
- Stocks like Adani Port, NTPC and L&T fell over 3 per cent.
- Shares of Dixon Technology were trading at Rs 13,600, down 10 per cent.
- Shares of AU Small Finance fell 6 per cent to Rs 610.
- Shares of Mangalore Refinery were also trading 6 per cent lower at Rs 170.90.
- BHEL shares were also trading at Rs 213, down 6 per cent.
- Shares of Tata Trent saw a decline of 5.38 per cent and settled at Rs 7,087.
Why did the stock market fall today?
The main reason for the stock market’s decline today has been the poor quarterly results of companies. Yesterday the profit of IndusInd Bank fell by 40 percent, so today there has been a huge drop in its shares. The second big reason is that during this month, foreign investors have so far withdrawn Rs 1 lakh crore from the Indian market, thereby dominating the sales. The third reason, seeing the stock market under pressure, large investors and retailers have sold stocks, due to which heavyweight stocks like Mahindra & Mahindra, L&T have fallen.
(Note: Before investing in any stock, definitely seek the help of a financial advisor.)
