2024-09-08 21:45:06
New Delhi: This month has not been good for the stock market so far. The US stock market has not risen even for a single day this month. In just one week, the market cap of the companies included in the S&P 500 index has decreased by $2.2 trillion. Historically, the month of September is not good for the stock markets. This has been the month when the stock markets have given an average negative return. On Friday, stock markets across the world including India declined. The Sensex fell by 1,200 points during trading, causing investors to lose Rs 5 lakh crore. Among the US companies, the biggest decline was in the shares of Tesla, the company of the world’s richest man Elon Musk. The shares of this company fell by 8.45 percent. With this, the company reached number 11 in the list of the world’s most valuable companies. Shares of Nvidia and Google’s parent company Alphabet fell by more than four percent, while shares of Amazon and Facebook’s parent company Meta Platforms fell by more than three percent. This fall also led to a decline in the net worth of America’s top billionaires. Musk suffered the biggest loss of $13 billion.
5 lakh crores wiped out… Sensex fell by more than 1,200 points, know where the bad news came from
Indian market situation
Due to weak trend in global markets and fresh withdrawal of foreign funds, domestic stock markets witnessed a huge decline on Friday. Sensex fell by 1,017 points while Nifty plunged by 293 points. This was the third consecutive session of decline in domestic stock markets. Among the 30 companies of Sensex, SBI recorded the maximum decline of four percent. Apart from this, shares of NTPC, ICICI Bank, HCL Technologies, Reliance Industries, Axis Bank and ITC also suffered losses. On the other hand, shares of Bajaj Finance, Asian Paints, JSW Steel and Maruti Suzuki closed with gains. Experts say that the near-term trend in the domestic market will be influenced by the upcoming employment data in America.