Today, on the fourth trading day of the week i.e. Thursday, the stock market fell sharply. Earlier, the stock market was registering gains for 10 consecutive trading sessions, which was the biggest rally in 13 years. The Bombay Stock Exchange's flagship index Sensex lost 2.61 percent to close at 1066.33 points at 39728.41. At the same time, the National Stock Exchange's Nifty lost 2.43 percent (290.70 points) to close at the level of 11680.35.
Investors lost about three lakh crores
According to analysts, further market volatility will continue. Hence investors should be cautious. Investors have lost about three lakh crore rupees due to the fall in the market. Profitability in the shares of Reliance Industries and IT companies put pressure on the stock market. Although buying in auto and metal stocks provided little support for the market, it eventually bounced on the red mark.
State of global markets
On Wednesday, global markets saw a decline. The US market Dow Jones was down 0.58 percent to close at 165.81 points at 28,514.00. The Nasdaq closed at 11,985.40 points, down by 97.81 points. Apart from this, the S&P 500 index lost 0.66 percent and closed down 23.26 points at 3,488.67. Today, Japan's Nikkei index fell 139.73 points in Asian markets. At the same time, the Shanghai Composite of China has a slight increase of 0.20 percent. The European stock market also sold. Britain's FTSE and France's CAC index closed down. Whereas Germany's DAX index closed with a slight gain.
Rakesh Jhunjhunwala made a big investment in Tata Motors
Veteran investor Rakesh Jhunjhunwala has made a large investment in Tata Motors in the second quarter (July to September) of FY 2020-21. On October 15, in a filing on the Bombay Stock Exchange, Tata Motors reported that Rakesh Jhunjhunwala had bought four crore shares of the company in the second quarter ended on September 30. Tata Motors is expected to release the results for the second quarter of FY 2020-21 on October 27. A board meeting of the company is scheduled for this day.
It is known that today the stock of Tata Motors opened at the level of 131.50 and finally closed at 126.55 after losing 4.15 points, or 3.18 percent. Whereas it closed at 130.70 on the previous trading day. Currently, the company has a market capitalization of Rs 420.38 billion.
Such was the situation of veteran shares
Talking about the big stocks, shares of all the companies, except Asian Paints, JSW Steel, and Coal India, closed on the red mark today. The top losers include Bajaj Finance, Tech Mahindra, ICICI Bank, IndusInd Bank, and Reliance.
Sectoral index tracking
If we look at the sectoral index, then all the sectors closed on the red mark. These include pharma, IT, auto, metal, FMCG, PSU banks, private banks, financial services, banks, media, and reality.
The market was open on a slight decline
The Sensex started today at 40848.04, up 53.30 points, or 0.13 percent, and the Nifty opened 0.44 percent, or 52.40 points, at 12023.45. After this, the market lost all the gains and the selling started dominating.
The market was closed on the last trading day
The stock market closed with a rise for the 10th consecutive day on the previous trading day. The Sensex was up 169.23 points at 40794.74, up 0.42 percent. At the same time, the Nifty closed at the level of 11971.05 with a gain of 0.31 percent (36.55 points).