The stock market fell to a five-month low, Rs 38 lakh crore sunk in just 2 days
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Mumbai (Uttam Hindu News): Equity markets fell to a five-month low today on all-round selling at the local level under pressure from the US-based Silicon Valley Bank (SVB) crisis to continue the fall in global markets. At the same time, there has been a sharp decline in Global Financial Stocks today. In just 2 days, the market value of global financial stocks has decreased by $ 465 billion (about Rs 3830000 crore).
BSE’s 30-share sensitive index Sensex fell by 337.66 points, or 0.58 percent, to a five-month low and below the psychological level of 58 thousand points to 57900.19 points. Earlier it was at 57235.33 points on October 13 last year. Similarly, the Nifty of the National Stock Exchange (NSE) fell by 111 points, or 0.65 percent, to 17043.30 points.
BSE’s mid- and small-cap stocks also witnessed heavy selling, with the Midcap down 0.46 per cent to 24,058.55 and the Smallcap down 0.84 per cent to 27,142.63. During this period, shares of a total of 3630 companies were traded on BSE, out of which 2349 declined while 1179 advanced while 102 remained unchanged. Similarly, 38 companies in the NSE remained in the red while the remaining 12 remained on the green mark.
Barring a gain of 0.12 per cent in Capital Goods group, all others sold in the BSE. Commodities 0.83, CD 0.70, Energy 0.59, FMCG 0.62, Financial Services 0.54, Healthcare 0.11, Industrials 0.36, IT 1.46, Telecom 0.21, Utilities 1.26, Auto 0.99, Banking 0.42, Consumer Durables 0.56, Metals 0.10, 69, Oil & Gas Power 1.06, Realty 1.00, Tech 1.08 and Services group shares fell 1.32 per cent.
There was a downward trend at the international level. During this period, Britain’s FTSE 0.32, Japan’s Nikkei 2.19, Hong Kong’s Hangseng 2.27 and China’s Shanghai Composite fell 0.72 percent, while Germany’s DAX was up 0.46 percent.
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