Mumbai, 11 March. After a gap of one day, there was again a big fall in the domestic stock market and on Wednesday both the benchmark indices closed in the red. While the BSE Sensex fell by 1,342 points and slipped below 77,000, the NSE Nifty fell by 395 points and fell below 23,900. Overall, Sensex and Nifty closed near their 11-month low.
Sensex and Nifty closed near 11 month low
If seen, this fall came after a day’s rise in the stock market due to the rise in crude oil prices amid the ongoing conflict in West Asia. According to traders, apart from this, the market also suffered losses due to capital withdrawal by foreign institutional investors and selling pressure in the shares of major banks.
Sensex fell 1.72 percent and closed at 76,863.71 points.
Bombay Stock Exchange (BSE)’s benchmark index Sensex based on 30 shares fell 1,342.27 points or 1.72 percent to close at 76,863.71 points. During trading it had seen a fall of up to 1,446.72 points. Among the companies associated with Sensex, the stocks of only two remained strong while 28 saw a decline.
Nifty fell 394.75 points and closed at 23,866.85.
On the other hand, the 50-share sensitive index Nifty of National Stock Exchange (NSE) closed at 23,866.85 points with a decline of 394.75 points or 1.63 percent. Among Nifty related companies, shares of nine were positive and 41 declined. However, the decline in small and medium shares was limited. The Nifty Midcap index declined by about 1.2 percent while the Smallcap index slipped by about 0.36 percent.
Investors lost Rs 5.28 lakh crore
The total market capitalization of companies listed on BSE today declined to Rs 441.76 lakh crore, which was Rs 447.04 lakh crore on the previous trading day. Thus, the market cap of companies listed in BSE has decreased by about Rs 5.28 lakh crore. In other words, the wealth of investors has declined by about Rs 5.28 lakh crore.
Bajaj Finance stocks fell the most by 5.01 percent.
Among the companies included in the Sensex group, Bajaj Finance’s stock fell the most by 5.01 percent. Axis Bank, Bajaj Finserv, Mahindra & Mahindra, Maruti, Trent, Bharti Airtel and Kotak Mahindra Bank were also major losers. On the other hand, shares of Sun Pharma and NTPC remained bullish.
FIIs sold shares worth Rs 4,672.64 crore
According to stock market data, foreign institutional investors (FIIs) sold shares worth Rs 4,672.64 crore on Tuesday. However, domestic institutional investors (DIIs) bought shares worth Rs 6,333.26 crore. Global oil benchmark Brent crude rose 5.76 percent to $92.86 a barrel.
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