Chaos in Small Cap Stocks, investors lost Rs 11 lakh crore due to fall
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There is chaos in the Indian stock market. Midcap and smallcap shares have seen a decline during the trading session. Nifty Midcap index has fallen by 1730 points. Nifty Smallcap index has fallen 676 points. Whereas BSE’s Smallcap Index and Midcap Index have fallen by 1824 and 1382 points respectively.
Since the statement of SEBI Chief regarding Midcap and Smallcap, they are continuously trading in the red. Midcap and smallcap are continuously declining. Due to this decline in the market, investors have suffered huge losses. Investors have suffered a loss of more than Rs 7 lakh crore. Investors had to bear this loss within three hours of market opening. The market cap of stocks listed on BSE has also fallen. Market cap has reached Rs 374.79 lakh crore. Investors have suffered a loss of Rs 110.78 lakh crore in the trade market.
The market was like this in the morning
Local stock markets opened with gains on Wednesday amid strong trend of global markets and continuous inflow of foreign funds. The market also got support from heavy buying in ITC shares. BSE’s 30-share Sensex rose 384.79 points to 74,052.75 in early trade. National Stock Exchange’s Nifty was trading at 22,446.75 points with a gain of 111.05 points. ITC’s shares rose by more than six percent among Sensex companies. British multinational company BAT PLC on Tuesday acquired ITC Ltd. It has announced to sell 3.5 percent stake in bulk deal to institutional investors.
Shares of Wipro, Nestle, ICICI Bank, Tata Consultancy Services, HCL Technologies, HDFC Bank, Infosys and Kotak Mahindra Bank were also among the gainers. Whereas shares of Power Grid, NTPC, Tata Steel and Axis Bank were trading in loss. In other Asian markets, South Korea’s Kospi and Hong Kong’s Hang Seng were in gain, while Japan’s Nikkei and China’s Shanghai Composite were in loss. American markets closed with gains on Tuesday. According to stock market data, foreign institutional investors (FIIs) had bought shares worth Rs 73.12 crore on Tuesday. Global oil benchmark Brent crude was up 0.50 percent at US $ 82.33 per barrel.
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