Stock Market crash: Sensex down by 1100 points
Mumbai: The share market on in this week again saw a huge fall similar to the huge decline in the stock market during the march month due to the spread of coronavirus followed by lockdown. During the fourth trading day of the week i.e. Thursday, Sensex dropped by 1100 points to 36,550 points during trading.
The Nifty lost 350 points and fell below the 10,800 mark. At the end of trading day, the Sensex fell by 2.96% or 1114.82 points to 36,553.60 points. The Nifty fell by 326.30 points or 2.93% to 10,805.55 points. Investors have suffered a loss of 392000 crores due to selling in the Indian stock market.
During the trading, all the shares of Bombay stock exchange index were on the red mark. IndusInd Bank shares fell 8% in the last hour of trading. The shares of Bajaj Finance, Tech Mahindra, TCS, Mahindra & Mahindra are also included in the top losers. Stocks of Tata Steel, Infosys, Axis Bank, Maruti, Airtel have also declined.
Due to increasing cases of coronavirus at the global level and no concrete measures regarding vaccine investors are selling the stock. In this case, global investors are cautious. Profit booking is also visible in the domestic market. In the August, Reserve Bank Governor Shaktikanta Das had warned the shareholders that the condition of the stock market is not showing according to the real economy, so it may fall further.
Despite the signs of strength from global markets, the decline in the stock market on Wednesday fell for the fifth consecutive day. The Sensex ended 65.66 points, or 0.17%, down at 37,668.42 at the end of trading. Similarly, the Nifty of the National Stock Exchange closed down 21.80 points or 0.20% at 11,131.85 points.
Shares of telecom and financial companies were sold, while the market strengthened for Reliance Industries and HDFC Bank. Bharti Airtel was the biggest loser among the Sensex stocks. Its stock was down 7.89%. The share of Vodafone Idea has also come down by more than 1%. A day ago, after the announcement of the post paid plan of Reliance Jio, the company’s stock has come down.