Stock markets fell sharply on Friday due to inflation at 6 per cent after nearly 2 years and a sharp decline in financial stocks. In the opening session itself, the Sensex fell by more than 600 points. On the other hand, Nifty also saw a decline of 225 points. Bajaj Finance, HDFC Bank, Axis Bank and other banks are witnessing a major decline. Apart from this, crude oil prices are once again seen above 95 dollars. It reached 92 dollars per barrel on Thursday. According to experts, there is volatility in crude oil prices. Although there is no war between the US and Iran, there is no peace agreement yet. Due to which there is instability. This initial drop in the stock market has resulted in a loss of Rs 2.83 lakh crore to stock market investors in just 7 minutes. Let us also tell you what kind of figures are being seen in Sensex and Nifty.
Crash in the stock market
The stock market is seeing a decline after a long time. If we look at the data, the benchmark Sensex of Bombay Stock Exchange witnessed a decline of 610.55 points during the early trading session to settle at 81,300.46 points. However, the Sensex opened at 81,833.78 points. A day earlier, the Sensex had closed flat at 81,911.01 points. Sensex is trading at 81,670.89 points down around 240 points at 9.44 am. It means that there has been a recovery of 350 points in the Sensex after the initial fall.
On the other hand, National Stock Exchange’s main index Nifty is also trading lower. Looking at the data, the Nifty is trading at 25,200.60 points, down around 100 points at 9.45 am. However, the Nifty was seen down 225 points at 25,077.55 points during the trading session. The Nifty opened at 25,209.85 points on Friday.
Which stocks are falling?
Mahindra & Mahindra, HDFC Bank appear to be the biggest losers on the BSE. Apart from this, BEL, Titan, SBI, Indigo, Maruti, Bajaj Finvers, Axis Bank, Bajaj Finance are also doing business with decline. At the same time, tech stocks are also seeing a boom. HSL Tech, TCS, Tech Mahindra Infosys are seen in green mark. Apart from this, the shares of Bharti Airtel and Sun Pharma are also seeing a surge. Shreeram Finance, HDFC Bank, Mahindra & Mahindra, Hindalco and Titan are major decliners on NSE. While Apollo Hospital, Dr. Reddy, Sun Pharma, HCLTech are witnessing growth.
Big loss to investors
The initial decline in the stock market has caused huge losses for investors. If we look at the data, within 7 minutes of the trading session BSE’s market cap was Rs. 5,09,44,186.57 crores. Whereas a day ago the market cap was Rs 5,12,27,177.05 crore. This means that BSE’s market cap is Rs. 2,82,990.48 crore has decreased. It means that investors have also suffered the same loss.
