Stock Market Today: On the occasion of Mahanavami on Monday, October 19, stock market investors got a big shock. The market started with a green signal on the first trading day of the week, but this happiness evaporated within moments. Within a short time, sales took over the market. The Sensex fell 538 points from its previous close. Due to this sharp decline, the total market cap of companies listed on BSE suddenly fell significantly.

Within a few minutes the mood of the market changed

Early signs looked good when the market opened on Monday morning. Along with Sensex, Nifty also started trading on a bullish note. But within seconds the atmosphere changed completely. The Sensex plunged suddenly and touched a low of 74,191.21. On the other hand, heavy selling was seen in Nifty as well. The Nifty fell over 175 points from its previous close to settle at a low of 22,970.50. The decline abruptly put a brake on the rally that had been going on for two consecutive trading sessions.

Millions of crores of rupees have been withdrawn from investors’ pockets

Common investors have suffered the most in this sudden market tsunami. If we look at the figures, when the market closed last Friday, the total market cap of all the companies listed on BSE was Rs. 4,73,46,932.132 crores. It fell to Rs 4,70,22,982.02 crore shortly after the market opened on Monday. Simply put, within minutes, investors’ hard-earned money can be converted into Rs. 3,23,950.112 crore (about Rs. 3.23 lakh crore) were wiped out from the market.

How was the market on Friday?

Before this decline, last Friday i.e. October 16th, there was a lot of excitement in the market. Indian markets closed higher for the second day in a row on positive cues from markets around the world. There was a lot of buying in the shares of IT companies that day. Accordingly, the Sensex rose 413.66 points or 0.56 percent to close at 74,729.27 on Friday. The Nifty also rose 148.80 points or 0.65 percent to close at 23,146.15.

Last week the market gave a great return

If we consider the overall business of the last week, the market did not disappoint the investors. Last week, the Sensex registered a strong gain of 2,256.94 points or 3.11 percent overall. At the same time, the Nifty also gained 625.7 points or 2.77 percent for the entire week. But this decline on Monday, the day of Mahanavami, has surely cooled the momentum of last week’s growth.