Tuesday did not turn out to be an auspicious day for the Indian Stock Exchange. Both the Sensex and Nifty market indexes started trading with a sharp rise, but when the markets closed, this initial rise turned into a huge fall. On the one hand, the Sensex of the Bombay Stock Exchange, of 30 shares, closed with a fall of 820 points, while the Nifty of the National Stock Exchange also fell 300 points. Meanwhile, shares of many big companies, including HDFC Bank, Tata Motors and Adani Port, plunged. With this huge drop, the market capitalization of companies listed on BSE decreased by Rs 5 lakh crore.
Sensex fell 820 points
The stock market started Tuesday with strong momentum. After opening in the green zone, BSE Sensex jumped over 290 points and suddenly this market rise turned into a huge fall. At 12 noon the BSE index was at 500 points, while at market close Sensex closed at the level of 78,675.18 with a sharp decline of 820 points or 1.03 per cent.
Huge drop of 257 points in Nifty
If we talk about the Nifty index of the National Stock Exchange, its condition was also similar to that of the Sensex. After a good start, this index also started falling and during trading, Nifty-50 fell by more than 300 points and touched the level of 23,839.15. Although the pace of decline slowed down as the market closed, NSE Nifty closed at the level of 23,883.45 down 257.85 points or 1.07 per cent.
These 10 great stocks became the ‘villains’ of the market
Now talking about the stocks of big companies that played a major role in the sharp and sudden market crash, stocks of 24 of the 30 BSE companies closed in the red. Among these large cap companies, NTPC Share closed with 3.06%, HDFC Bank with 2.73%, Asian Paints with 2.65%, SBI with 2.52% and Tata Motors with 2.46 %.
Among other major companies, JSW Steel Share (2.28%), Maruti Share (2.27%), PowerGrid Share (2.12%), Adani Ports Share (2.02%) and Bajaj Finance Share (1.98 %) closed with losses.
These stocks are scattered across mid- and small-cap companies.
Other large cap stocks that plunged included Nestle, Kotak Bank, Axis Bank, HUL, Mahindra & Mahindra, Tech Mahindra, ITC, Tata Steel, Titan, TCS, Bharti Airtel, HCL and IndusInd Bank. Talking about the companies included in the midcap category, Whirlpool Share closed with 7.33%, Relaxo Share with 5.95%, Suzlon Share with 4.44%, BHEL Share with 3.78% and Paytm Share with 3.71%.
Among the stocks that fell the most in the small cap category, BASF Share fell 14.83%, while Globusspr Share recorded a fall of 12.79%. Apart from this, ITI Ltd Share also closed with a big drop, this stock fell by 9.85% and closed at Rs 295.15. On the other hand, IIFL Securities Share and Bajaj Consumer Share closed down 8.16%.
(Note: Before making any kind of investment in the stock market, definitely consult your market experts.)
