The BSE Sensex closed 280 points down at 36,842 at the end of the trading on Friday after the Sensex dropped 1495 points from the upper level, following heavy selling in banking and financial stocks. The Nifty closed 91 points down at 11,143 level. The Sensex lost 1,127.58 points in the afternoon and settled at 35,993.64, and the Nifty declined 367.90 points to 10,866.45 in the afternoon. However, after the sell-out period in the stock market has started. Yas Bank's contribution to the market was 169.34 points.
Sensex plunges nearly 1500 points
The stock market was hit on Friday when the Sensex suddenly dipped 1500 points. It was a relief that as fast as the market dropped, the faster it recovered too. During the trading, the Sensex dropped 1495 points from the upper level to 35993.64 and the Nifty came down to 480.35 points. Investors in the news about non-banking financial companies spread that these companies could be caught in a cash crunch. This led to increased sales in the market.
What stocks fall, boom in
During the business, ONGC, Wipro, ITC, TCS, Asian Paints, M & M, Powergrid, Hero MotoCorp, Bharti Airtel, Tata Steel, Reliance Industries, HDFC Bank and HDFC rose. However, YES Bank, Kotak Bank, Adani Ports, IndusInd Bank, Maruti, Infosys, Sun Pharma, HUL, Axis Bank, Tata Motors, ICICI Bank, SBI, Bajaj Auto, Vedanta Loss
Midcap-Smallcap shares also fall
Even with mid-caps and mid-caps, there was a decline in midcaps and smallcap stocks. The BSE Mid-Cap Index fell 1.72 per cent, while the Nifty Midcap 100 index declined by 2.49 per cent. BSE's Smallcap Index fell 3 percent.
Nifty closed all index red marks
All indexes on the Nifty were closed in red mark due to all-round sale in the market. The worst decline was in the Nifty Realty Index, up 3.51% and the private bank index was 3.45%. Bank Nifty closed 2.59 percent down at 25,596.90 Bank Auto 1.14 per cent, Financial Services 1.04 per cent, IT 1.43 per cent, Metal 0.50 per cent, Pharma 1.96 per cent, PSU Bank 1.64 per cent weakness
Reasons for Selling in the Market
CEO of Epic Research Nadeem Mustafa says that the market did not expect such a big drop in the single trading session. But many triggers became dominant together. There was concern about credit risk in NBFC companies, while some rumors have spoiled the issue. On the other hand, private banks and infrastructure companies including Yes Bank have been sold. All this became the reason for the decline of the market.
Sensex plunges nearly 1500 points
The stock market was hit on Friday when the Sensex suddenly dipped 1500 points. It was a relief that as fast as the market dropped, the faster it recovered too. During the trading, the Sensex dropped 1495 points from the upper level to 35993.64 and the Nifty came down to 480.35 points. Investors in the news about non-banking financial companies spread that these companies could be caught in a cash crunch. This led to increased sales in the market.
What stocks fall, boom in
During the business, ONGC, Wipro, ITC, TCS, Asian Paints, M & M, Powergrid, Hero MotoCorp, Bharti Airtel, Tata Steel, Reliance Industries, HDFC Bank and HDFC rose. However, YES Bank, Kotak Bank, Adani Ports, IndusInd Bank, Maruti, Infosys, Sun Pharma, HUL, Axis Bank, Tata Motors, ICICI Bank, SBI, Bajaj Auto, Vedanta Loss
Midcap-Smallcap shares also fall
Even with mid-caps and mid-caps, there was a decline in midcaps and smallcap stocks. The BSE Mid-Cap Index fell 1.72 per cent, while the Nifty Midcap 100 index declined by 2.49 per cent. BSE's Smallcap Index fell 3 percent.
Nifty closed all index red marks
All indexes on the Nifty were closed in red mark due to all-round sale in the market. The worst decline was in the Nifty Realty Index, up 3.51% and the private bank index was 3.45%. Bank Nifty closed 2.59 percent down at 25,596.90 Bank Auto 1.14 per cent, Financial Services 1.04 per cent, IT 1.43 per cent, Metal 0.50 per cent, Pharma 1.96 per cent, PSU Bank 1.64 per cent weakness
Reasons for Selling in the Market
CEO of Epic Research Nadeem Mustafa says that the market did not expect such a big drop in the single trading session. But many triggers became dominant together. There was concern about credit risk in NBFC companies, while some rumors have spoiled the issue. On the other hand, private banks and infrastructure companies including Yes Bank have been sold. All this became the reason for the decline of the market.
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