Share Market Stock market suddenly flooded, Sensex fell below thousand points, investors suffered huge losses.

Amidst huge turmoil, the stock market suddenly collapsed in the last hour on Wednesday. Both the indices, which were trading in the green throughout the day, were seen rising at the speed of a rocket, but at the time of market closing, the Sensex fell by more than 800 points. Apart from Sensex, Nifty also closed down by 200 points.

Till noon on Wednesday, the 30-share index of Bombay Stock Exchange i.e. Sensex was at the level of 70,570 with a decline of 1.21 percent. On the other hand, Nifty of National Stock Exchange was also trading with a decline of 1.32 percent. Let us tell you that during the initial trading, Sensex had reached its new all-time high level i.e. 71913 with a rise of 450 points. However, at the time of market closing, Sensex was trading more than a thousand points lower than its brother. Nifty was down by 370 points at the close.

Trading in the stock markets started on a brisk note and soon the Sensex jumped by 475.88 points or 0.66 percent to reach its all-time high of 71,913.07 points. But due to all-round selling at higher levels, the Sensex fell to a low of 70,302.60. At the end of trading it closed at 70,506.31 points. A similar trend was seen with Nifty. At the beginning of trading, Nifty rose 139.9 points or 0.65 percent to its record high of 21,593. But due to profit booking by investors, it also fell and closed at 21,150.15 points. Vinod Nair, Head of Research, Geojit Financial Services, said, “Despite the positive trend in global markets, domestic markets witnessed sharp and sudden selling in the latter half of trading. Investors reaped profits due to overvaluation of midcap and smallcap stocks. The rise in crude oil prices also prompted investors to book profits.

The all-round decline in the market was such that out of 30 companies included in the Sensex, only HDFC Bank remained in the lead. Shares of all the remaining 29 companies closed with a decline. Tata Steel had the biggest decline of 4.21 percent. NTPC, Tata Motors, HCL Technologies, Mahindra & Mahindra, State Bank of India, Power Grid, Tech Mahindra, Larsen & Toubro and JSW Steel also declined.

All market indices closed with a decline, with the utility segment suffering the maximum loss of 4.65 percent. A big decline of 4.36 percent was seen in the telecom segment and 4.33 percent in the energy segment. In the broader market, a big fall of 3.42 percent was recorded in BSE Smallcap and 3.12 percent in Midcap. A total of 3,177 shares declined while 658 gained and 86 shares remained unchanged.

In other markets of Asia, South Korea’s Kospi, Japan’s Nikkei and Hong Kong’s Hang Seng remained in positive territory while China’s Shanghai Composite closed with loss. Most markets in Europe were trading lower in afternoon trade. A rise was recorded in the American markets on Tuesday. International oil benchmark Brent crude rose 0.76 percent to $ 79.83 per barrel. Meanwhile, according to stock market data, foreign institutional investors (FIIs) sold shares worth Rs 601.52 crore on Tuesday.