The stock market, which had been on the rise for two days, fell on Wednesday. Following this, the Bombay Stock Exchange benchmark Sensex fell 110 points. However, the market capitalization rose by Rs 22,000 crore.
The market has been dominated by bulls since the beginning of this week. In particular, on Tuesday, as no one expected, the market suddenly rose and took participants by surprise. In this case, the start of Wednesday was good, but as time went on the bear’s grip tightened and the market ended in a slump. As a result, the two-day series ended higher, according to stockbroking firms.
The market was positive in the first half. However, gains in real estate, PSU Bank and IT stocks in the second half were the main reason for the decline. However, traders said the big fall was averted as there was good support for shares of Pharma and FMCG.
1,866 shares of company stock fall:
Out of a total of 3,466 companies traded on the Mumbai Stock Exchange, 1,479 shares were listed on the gains list. 1,866 shares came on the fall list. 121 shares remained unchanged. 59 stocks recorded new 52-week highs and 34 stocks recorded new lows. The market capitalization rose by Rs 22,000 crore to close at Rs 255.77 lakh crore at the close of trading. The number of registered investors has crossed 10.60 crore.
Sensex plunges: The Sensex, which started the morning at 54,554.89 with a gain of 236.42 points, touched a high of 54,786.00. Then, the Sensex fell to 54,130.89 and finally settled at 54,208.53, down 109.94 points (0.20 per cent).
Power Grid Fall:
Out of a total of 30 stocks in the Sensex, only 13 gained. 17 stocks fell. Of these, Power Grid, a popular public sector power company, topped the list with a decline of 4.55 percent. This was followed by Tech Mahindra, SBI, L&T, Bajaj Finserv, Bharti Airtel and NTPC, which lost 1.50 to 2.20 per cent. Also on the list were Wipro, Infosys, HCL Tech, TCS, ICICI Bank and HDFC.
HUL improves: Meanwhile, popular consumer goods maker Hindustan Unilever (HUL) was up 2.02 per cent and Ultra Tech Cement was up 2.01 per cent. Also on the list were Asian Paint, Sun Pharma, ITC, Axis Bank, Maruti Suzuki, Reliance, Kotak Bank and HDFC Bank.
Nifty down 19 points: The National Stock Exchange gained 1,065 shares. 885 shares fell. Of the 50 top-ranked stocks in the Nifty list, 29 gained. 21 stocks fell. The Nifty index, which started the morning at 16,318.15 with a gain of 58.85 points, touched a high of 16,399.80. Then, the Nifty fell to 16,211.20 and finally fell 19 points (0.12 per cent) to 16,240.30.
PSU Bank, Realty Codes
Decline: Nifty PSU Bank and Realty indices fell 1.57 per cent and 1.75 per cent, respectively, on the National Stock Exchange. In addition, the Nifty ID, metal, consumer durables, oil and gas indices fell 0.50 percent. Meanwhile, pharma and FMCG indices rose 1.06 per cent and 1.25 per cent, respectively.
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