Investors drowned in the storm of Adani and budget, Rs 12 lakh crore lost
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Mumbai (Best Hindu News): The Sensex and the Nifty declined by nearly 1.5 per cent as investors sold up to 7.34 per cent in 16 groups, including utilities and power, at the local level, discouraged by a weak trend in the global market. Due to a report, there has been a sharp decline in the shares of Adani Group. Now due to the fear of this short selling, LIC and banking index were also swept away in the storm of the market.
The benchmark indices fell nearly two per cent despite a positive trend in global markets. There are two main events from the market perspective next week – Union Budget 2023 and US Federal Reserve meeting. In such a situation, investors are taking precautions. At present, the BSE market capitalization has declined from Rs 280.39 lakh crore to Rs 268.64 lakh crore. This resulted in a loss of Rs 11.75 crore in investor wealth during the two sessions.
BSE’s 30-share sensitive index Sensex fell 874.16 points, or 1.45 percent, below the psychological level of 60 thousand points to 59,330.90 points. Similarly, the Nifty of the National Stock Exchange (NSE) plunged 287.60 points, or 1.61 percent, to 17,604.35 points. BSE Midcap also fell 1.29 percent to 24,338.84 points and Smallcap fell 1.89 points to 27,623.85 points.
During this period, shares of a total of 3658 companies were traded in BSE. Out of these, 2668 were sold while 890 were bought while 100 remained unchanged. Similarly, 37 companies in the NSE remained in the red while the remaining 13 remained on the green mark.
There was a decline in 16 groups on the BSE. The utilities group incurred the maximum loss of 7.34 per cent. Similarly, shares of Power 6.79, Services 6.23, Commodities 3.27, Energy 5.22, Financial Services 2.48, Telecom 3.79, Banking 3.06 and Oil and Gas group fell 5.75 percent.
In early trade, the Sensex slipped 38 points to open at 60,166.90, which was also its highest level of the day. However, due to the selling that started after this, it fell continuously and fell to a low of 58,974.70 points in the last phase of the business. Thanks to efforts to recover, it finally fell 1.45 percent to 59,330.90 points as against the previous day’s 60,205.06 points.
The Nifty also opened down 15 points at 17,877.20. It touched a high of 17,884.75 and a low of 17,493.55 during the session. It finally closed at 17,604.35, down 1.61 per cent from the previous session’s 17,891.95.
During this period, SBI 5.03, ICICI Bank 4.41, Axis Bank 2.07, HDFC Bank 1.96, Reliance 1.90, Infosys 1.60, Wipro 0.85, LT 0.68, TCS 0.62, Maruti 0.53, Tata Steel 0.29 and Powergrid 0.09 per cent were among the major Sensex losers. Involved
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