Black Thursday in Share Market, Sensex fell by 931 points after 5 days of rise; Billions of rupees stolen from investors

Share Market Highlights: After five consecutive sessions of gains, the Indian stock market closed in the red on Thursday. At the end of the day, Sensex was at 76,631.65, down 931.25 points or 1.20 per cent, and Nifty was at 23,775.10, down 222.25 points or 0.93 per cent. Banking stocks led the market decline. Nifty Private Bank was the top loser among the indices with a weakness of 1.75 percent.

After this, Nifty Financial Services closed with a fall of 1.41 percent, Nifty PSU Bank 1.27 percent, Nifty Services 1.19 percent, Nifty Infra 0.75 percent and Nifty Oil & Gas closed with a fall of 0.39 percent.

Today’s Top Gainers and Losers

On the other hand, Nifty India Defense closed with gains of 1.56 percent, Nifty Metal 1.25 percent, Nifty PSE 1.13 percent, Nifty Energy 0.82 percent, Nifty Healthcare 0.71 percent and Nifty Pharma 0.66 percent. BEL, NTPC, Power Grid, TCS, HCL Tech, Tata Steel and Tech Mahindra were the gainers in the Sensex pack. Indigo, L&T, Eternal, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, SBI, Titan, UltraTech Cement, Trent, M&M and Bajaj Finserv were among the losers.

Along with largecap, midcap and smallcap also saw a rise. The Nifty Midcap 100 index closed at 56,978.75, up 179.25 points or 0.32 per cent, and the Nifty Smallcap 100 index closed at 16,566, up 27.95 points or 0.17 per cent.

Main reason for market decline

Sudeep Shah, Technical and Derivatives Head, SBI Securities, said that profit booking was seen from upper levels during the session in the Indian stock market. Due to this, Nifty closed at 23,775 with a fall of 0.93 percent. He further said that the zone of 23,880 to 23,900 is the resistance level for Nifty. If Nifty goes above this level, then levels of 24,050 and then 24,200 can be seen in the short term. In case of a decline, 23,630 and 23,600 will act as support.

Also read: Share Market: Market opened on red mark! Sensex and Nifty fall heavily, investors lose crores of rupees!

FIIs move in domestic market

in domestic stock market foreign institutional investors (FIIs) made light selling totaling Rs 2800 crore, but recorded net buying of Rs 4783 crore after 25 days. At the same time, domestic institutional investors (DIIs) put in about Rs 4200 crore into the market for the 28th consecutive day, which provided support to the market.