Big fall in the stock market, what happened that the Sensex slipped?
Stock market down:The effect of the global market decline is also being seen in the Indian domestic market on Monday. The first trading day of the week started with disappointment for the Indian stock market. Today, a sharp decline is being witnessed in Sensex and Nifty and Bank Nifty has plunged by more than 600 points in a short time after the market opened. Global signals are responsible for the stock market’s disappointing start and a sharp decline was seen in the Japanese market today.
At around 11 am, while Sensex is trading at 84,799.15, a drop of 782 points, Nifty is also witnessing a drop of over 250 points. Last week there was a sharp rise in the stock market and Sensex-Nifty was breaking new records almost every day, but on the first trading day of the week suddenly there was a break in the market momentum and both the indices fell sharply.
What level did Sensex Nifty reach?
Sensex started trading at the level of 85,208 with a drop from its previous close of 85,571 and within a few minutes it fell by 744.99 points to the level of 84,824.86. Like Sensex, Nifty also fell severely and opened at 26,061, falling from its previous closing level of 26,178.95 and within a short time it fell by 211.75 points to reach the level of 25,967.20.
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Why did the market suddenly drop?
The signs of this big drop in the Indian stock market were already visible. In reality, global indicators seemed sluggish because of Japan and when the market opened its effect became clearly visible. A sharp drop was observed in Japan and showed a drop of 1850 points. Its Nikkei index was trading at 37,980.34 and was trading with a loss of 1,849.22 points. While the Japanese market fell 4.64 percent, the main Chinese market index, the Shanghai Composite, rose 4.89 percent and fell 151.03 points. Korea’s Kospi was trading slightly lower.
Stocks with the biggest gainers and losers
Hindalco, NTPC, JSW Steel, Tata Steel and Britannia were the top gainers on the National Stock Exchange’s Nifty 50 at the start of trading. Hero MotoCorp, Tech Mahindra, Coal India, M&M and ICICI Bank emerged as the top losing stocks in Nifty 50 on September 30.
