Stock Market Crash… Stock market fell on the first day of the week, investors lost Rs 389.66 lakh crore
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New Delhi (Uttam Hindu News), Stock Market Crash… The stock market crashed on the first trading day of the week. Sensex closed at 73,502 with a fall of 617 points or 0.83%. On the other hand, NSE Nifty slipped 161 points or 0.72% and closed at the level of 22,332. Due to the fall in the market, the market cap of BSE listed companies decreased by Rs 3.15 lakh crore to Rs 389.66 lakh crore. Investors turned cautious ahead of stronger-than-expected US non-farm payrolls data and the release of US inflation data on Tuesday. The broader market continued its underperformance due to valuation concerns, while investors rebalanced their portfolios to include safe-haven assets such as gold.
Stock Market Crash… Rupak Dey, senior technical analyst at LKP Securities, said that fluctuations are being seen in Nifty. The trend remains bullish, but currently the market is undergoing a correction. There may be further decline in Nifty, due to which it will probably remain in the range of 22,200-22,250. Today all sectors except pharma and healthcare fell. Bank Nifty fell 1.06%, Auto 0.59%. Metal shares fell 1.44%. Media witnessed the biggest decline of 2.91%.
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