stock market crash
The ups and downs in the stock market show no signs of stopping. Till this morning there was optimism in the stock market but after noon sales of IT shares started and at market close both sensex and nifty moved from green to red mark.
The reason for this sudden fall in the stock market was the uncertainty over the interest rate cut by the US Federal Reserve and sales of IT stocks, Sensex points and Nifty points fell below from the level of 24 thousand.
Out of 30 Sensex shares, this number of ‘Lal’ shares
If we look at the chart of 30 Sensex stocks, out of them 29 reached the red mark at the time of market close. The only stock on the chart that closed on the green mark was the SBI stock, which saw an increase of 0.59 per cent.
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Many Nifty 50 stocks turned ‘red’
If we look at the chart of 50 Nifty stocks, except stocks of 4 companies, stocks of 46 companies closed in the red. Stocks that rose in Nifty 50 were ADANIENT, SHRIRAMFIN, SBIN and CIPLA.
How much market cap decreased?
The market capitalization of all companies listed on BSE decreased by Rs 1.52 lakh crore due to today’s decline to reach Rs 442.96 lakh crore. IT shares fell as much as 4% as US inflation data indicated the pace of interest rate cuts would be slower than expected. The Nifty IT index fell 2.3%, led by LTTS, Infosys, Tech Mahindra and HCL.
On the other hand, shares of Adani Group companies rose as much as 9.3% after the group clarified that last week’s indictment did not accuse its top executives of violating the United States Foreign Corrupt Practices Act. Joined.
There was an increase in these Adani stocks.
Adani Energy Solutions and Adani Total Gas gained the most, with an increase of 9% and 9.3% respectively. Shares of Adani Green Energy also rose 8.3%, hitting the day’s high of Rs 1,072. Shares of Adani Power, Adani Enterprises, Adani Wilmar and Adani Ports rose as much as 5%. The group’s shares rose around $14 billion on Wednesday after suffering a loss of around $34 billion through Tuesday since the prosecutor’s action.
