Share Market: Outcry in the market on the last day of the week! Sensex fell 1100 points; ₹600 crore looted from investors

Share Market Highlights: The Indian stock market closed with a big fall in the last trading session of the week due to mixed signals from global markets amid the ongoing conflicts in the Middle East. The trading session started in the green. But the benchmark indices traded in a narrow range for most of the session amid uncertainty over the US-Iran deal. There was sudden heavy selling at the end of trading, in which the Sensex fell by almost 1,300 points and the Nifty 50 slipped to 23,485.

At the time of closing of the stock market, the 30-share Sensex fell 1,092.06 points, or 1.44 percent, to 74,775.74, while the NSE Nifty 50 fell 359.40 points, or 1.50 percent, to 23,547.75. During the day, Sensex opened at 75,988.51, making an intra-day high of 76,220.02 and low of 74,589.11. Whereas NSE Nifty opened at 23,902.15 and made the day’s high of 24,002.80 and low of 23,484.75. In the broader markets, the Nifty Midcap index fell 1.33 per cent and the Nifty Smallcap index fell 0.85 per cent.

Today’s Top Gainers and Losers

On the other hand, sector wise, a decline of 2.47 percent was recorded in Nifty Oil & Gas, a decline of 2.02 percent in Nifty Metal and a decline of 2.02 percent was recorded in Nifty Financial Services X-Bank. Apart from this, Nifty Auto, Nifty FMCG, Nifty Pharma, Nifty Private Bank, Nifty Healthcare and Nifty Consumer Durables declined by more than 1 percent. Whereas Nifty IT index recorded a gain of 0.60 percent.

In the Nifty50 index, Tech Mahindra, HCL Tech, Wipro, Nestle India and L&T were up more than 1 per cent, while PowerGrid, Indigo, ONGC, MaxHealth, Eicher Motor and Tata Consumer were the biggest losers.

600 crore rupees in one stroke

Meanwhile, investors lost around Rs 6 lakh crore in a single session as the total market capitalization (market cap) of BSE listed companies fell to around Rs 465 lakh crore from around Rs 471 lakh crore in the previous session.

Market’s eye on Hormuz

A market expert said that tension in the Middle East is expected to reduce in the coming time, due to which international crude oil prices fell. Brent crude fell more than 1.5 percent to below $88 per barrel, while crude oil futures prices in the domestic market slipped below Rs 8,400 per barrel.

According to experts, the market is still keeping an eye on strait of hormuz And remains on diplomatic developments related to it. Oil prices fell by more than 17 percent for the month, suggesting that the geopolitical risk premium that has built up in recent months is now rapidly diminishing.

Also read: Gold-Silver Rate Today: Huge fall in the prices of gold and silver, know what is the price of gold and silver in your city.

Rupee gets stronger against Dollar

Experts said that the Indian Rupee moved strongly in the currency market. rupee against dollar Reached below 95.2. The rupee got support due to softening of crude oil prices and reduced demand for US dollar, which led to improvement in rupee from the recent record low and also gave some relief to India’s inflation, import bill and macroeconomic situation.