On Monday, the first trading day of the week, the stock market also fell. Following this, the BSE Sensex lost another 826 points.
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What is the reason for the stock market to face such a decline?
The Indian stock market lost Rs 9.65 lakh crore in a single day on Monday, October 24, 2023. This is the biggest single-day loss in the history of the Indian stock market.
Following the Israeli-Palestinian war, the situation in Middle East Asia has worsened. Also, the continuous rise in crude oil prices has caused concern among investors.
The impact is reverberating across stock markets globally. Following this, the domestic market also suffered a decline. In particular, Media, Metal, BSU Bank and Realty indices fell by 3 to 4 percent. Banking, financials, auto, IT, pharma, healthcare and oil and gas indices were down between 1 and 2 percent, brokerages said. Meanwhile, on the occasion of Dussehra, the stock market was declared a holiday on Tuesday, so no trading took place.
Market value decline: Market capitalization declined by Rs 9.65 lakh crore to Rs 311.31 lakh crore at the end of trading hours. Meanwhile, foreign institutional investors bought shares to the tune of Rs 252.25 crore on Thursday, according to market statistics.
SENSEX - Day one down: The Sensex, which opened the morning up 21.40 points at 65,419.02, touched a high of 65,453.92. Later, the Sensex, which went down to 64,502.68, eventually lost 825.74 points (1.26 percent) to end at 64,571.88. Out of a total volume of 3,990 traded on the BSE, only 593 stocks gained. 3,253 stocks fell. 144 stocks remained unchanged.
20 stocks fall: Bajaj Finance and M&M were the only two stocks on the Sensex list to gain 0.35 per cent. Another 28 stocks were on the fall list. A total of 169 stocks gained in the national stock market. 1,980 stocks fell. Only 2 stocks gained on the Nifty list. 48 shares fell.
Nifty down 261 points: The Nifty Kai, comprising 50 top-tier stocks of the National Stock Exchange, was down 21.05 points at 19,556.85 and touched a high of 19,556.85. Later, the Nifty, which went down to 19,281.75, eventually lost 260.90 points (1.34 per cent) to close at 19,281.75.