Due to the slow pace of the US and Chinese economy, there is a decline in the markets all over the world. The effect of this is also clearly visible in the Indian stock market. Sensex fell by more than 700 points in the morning. On the other hand, a huge drop was also observed in Nifty. What is special is that due to this fall, stock market investors suffered a loss of more than Rs 3 lakh crore.
According to BSE and NSE data, a major fall is being witnessed in IT, financials and metals stocks. Shares of Infosys, ICICI Bank, L&T, TCS, Bharti Airtel and SBI are trading lower. Meanwhile, JSW Steel and Tata Steel are visible in the list of top losing stocks. Let us also tell you what kind of numbers are currently being seen in the stock market?
stock market crash
The Indian stock market is witnessing a fall amid concerns over the US economic slowdown and the faltering Chinese economy. The key BSE index Sensex fell 721.75 points to 81,833.69 during the trading session. However, currently the Sensex is trading at 82,141.94 points with a drop of 415 points. On the other hand, the main index of the National Stock Exchange Nifty fell 196.05 points to 25,083.80 points. Currently, Nifty is witnessing a drop of 150 points and is trading at 25,131 points.
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Which stocks are experiencing a decline?
The maximum fall of 3 per cent is seen in the shares of Coal India and Wipro on the National Stock Exchange. On the other hand, the shares of ONGC are trading with a fall of 2.96 per cent. The shares of L&TIM and Hindalco are trading with a fall of more than 2 per cent. The shares of Asian Paints are trading with an increase of more than 2 per cent on NSE. At the same time, the shares of Grasim and Hindustan Unilever are trading with an increase of more than one per cent.
Investors suffered losses
The effect of the stock market crash has also been visible on the stock market investors. According to the data, there has been a huge drop in the market capitalisation of the BSE, which is linked to the profits of the investors. On Wednesday, when Sensex hit the lowest level of the day, the market capitalisation of the BSE declined to Rs 4,62,41,270.85 crore. While a day earlier, the market capitalisation of the BSE was Rs 4,65,54,886.40 crore. This means that there was a decline of Rs 3,13,615.55 crore in the market capitalisation of the BSE. This is the loss of the stock market investors.
For these reasons the stock market fell
Concern over US recession: The Indian stock market has fallen on concerns about a possible economic recession in the US. Data from the Institute for Supply Management (ISM) showed that the US manufacturing sector remained weak in August, which is a sign of continued weakness in the sector. The ISM said its manufacturing PMI rose to 47.2 last month from 46.8 in July, the lowest reading since November. A PMI below 50 indicates weakness in the manufacturing sector, which contributes 10.3 per cent to the economy.
Huge drop in the global market:The massive fall in global markets, especially technology stocks, has further aggravated the fall in the Indian stock market. Asian markets were hit hard, with benchmark indices in Tokyo and Taipei falling more than 3 percent. The fall was due to concerns about global growth, weak US manufacturing data and a significant drop in AI-based stocks such as Nvidia. The S&P 500, Nasdaq Composite and Dow Jones all posted their biggest daily percentage losses since early August. According to experts, selling in American markets began on Tuesday due to concerns about growth. There are signs that the US manufacturing sector is weakening, threatening hopes of a soft landing.
