The stock market, which had been on the rise for the past 3 days, plunged sharply on Friday. Following this, the Bombay Stock Exchange benchmark Sensex lost 773 points to close at 58,152.92. The market capitalization fell to Rs 263.90 lakh crore at the end of trading.
Most markets around the world were volatile. Its impact was echoed in the domestic market. Shares of the IT and financial sector traded higher on Friday as the domestic market advanced for a third day on Thursday following the Federal Reserve’s monetary policy meeting. As a result, the stock market broke out, according to stockbroking firms.
Moreover, the withdrawal of investments by foreign institutional investors from the stock market has greatly affected the investors’ appetite, he said. They also sold shares worth Rs 1,732.58 crore on Thursday, according to market data.
2,378 shares fall: Of the total 3,408 shares traded on the Mumbai Stock Exchange, only 932 gained. 2,378 shares fell in price. 98 shares remained unchanged. 149 stocks recorded a new 52-week high and 39 stocks a new low. In addition, 222 stocks recorded highs and lows, while 346 stocks fell further and lows. The market capitalization fell to Rs 263.90 lakh crore at the end of trading. The number of registered investors has risen to 9.673 crore.
Bear bear dominance: The Sensex fell 478.88 points in the morning to start at 58,447.15 and did not rise above it. Then, the Sensex fell to 57,914.10, ending at 773.11 points (1.31 per cent) at 58,152.92. Of the 30 top-ranked stocks in the Sensex, only 5 gained. 25 stocks came on the fall list.
IT stocks fall: Leading IT companies in the Sensex, including Tech Mahindra, Infosys, HCL Tech and Wipro, fell 2 to 3 per cent and Ultra Tech Cement 2.716 per cent. Apart from these, SBI, Kotak Bank, HDFC, TCS, Pow Grid, Titan, Bajaj Finance, Bajaj Finchow, ICICI Bank, L&T and Bothi Atel fell 1.50 to 2 per cent. Also on the fall list were Market Lead Reliance, Doctorate and Axis Bank.
IndusInd Bank Improvement: Meanwhile, IndusInd Bank, a popular private sector lender, topped the earnings list with a gain of 0.94%. Also on the list were Tata Steel, NTPC, M&M and ITC.
Nifty down 231 points: Only 389 stocks gained on the National Stock Exchange. 1,507 shares fell. Only 5 stocks gained in the Nifty list, which includes 50 top-grade stocks. 45 stocks fell. The Nifty index was down 231.10 points (1.31 per cent) at 17,374.75. The Nifty, which started the day at 17,451.00, fell 145 points to close at 17,454.75. Then, it went down to 17,303.75.
All sector indices decline: All sector indices on the National Stock Exchange were on the fall list. The ID code topped the list, down 2.72 percent. PSU Bank, Realty and Consumer Durables indices fell 2 to 2.20 per cent. Also, Nifty Bank, Financial Services, Auto, Media, Private Bank and Healthco indexes declined by 1 to 1.50 per cent.