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The market fell 1,000 points from a record high, investors lost Rs 5.88 lakh crore in 105 minutes

Sagar Patel

By Sagar Patel

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When the stock market opened on Wednesday morning, Sensex and Nifty again hit record highs. That was the only time when the stock market saw a boom. After that, Sensex and Nifty declined. In about 105 minutes, there was a drop of more than 1000 points in Sensex and more than 300 points in Nifty. This is the reason why investors suffered a loss of Rs 5.88 lakh crore during this period.

According to experts, profit booking started after the stock market hit record highs, Sensex and Nifty were overvalued, corporate earnings slowed in the June quarter and there was no indication of an interest rate cut by the Federal Reserve. Incidentally, since Prime Minister Narendra Modi was sworn in till July 9, Sensex and Nifty have seen a 5 per cent rise. Let us try to understand from the numbers what kind of numbers are being seen in Sensex and Nifty.

Big fall in Sensex

Today, the main index Sensex of the Bombay Stock Exchange is witnessing a major fall. When the Sensex opened, the stock market hit a new 52-week high. According to the data, Sensex opened at 80,481.36 points and a new record high was set. Afterwards, the Sensex continued to fall and at 11 o’clock the Sensex fell by 1,045.6 points and hit the lowest level of the day of 79,435.76 points. However, a day earlier the Sensex had closed at a record level of 80,351.64 points.

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Nifty also crashed

On the other hand, the main index of the National Stock Exchange Nifty fell by 1.30 percent below the record level. According to the data, on Wednesday Nifty opened at 24,459.85 points and within a short time it touched an all-time high of 24,461.05 points. It experienced a fall of 319.25 points and touched the lowest level of the day of 24,141.80 points. However, a day earlier, Nifty had also closed at a record level of 24,433.20 points. If experts are to be believed, overbought conditions have been observed in Nifty in the last few days. Due to which a fall is being seen in the stock market.

5 percent jump in one month

Prime Minister Narendra Modi was sworn in as the Prime Minister for the third time on Sunday, June 9. From June 10 to July 9, Sensex and Nifty saw a rise of 5 per cent. Nifty has seen a rise of 5 per cent i.e. 1,174 points in the last one month. On the other hand, Sensex has seen a rise of 3,861.56 points during this period. According to experts, till the budget announcement, both Sensex and Nifty can see a rise of up to 5 per cent.

big loss for investors

As soon as the stock market opened today and Sensex hit a record high, the record market cap of BSE touched Rs 4,52,67,778.76 crore. At 105 minutes i.e. at 11 am, the Sensex touched its lowest level of the day and the market cap came down to Rs 4,46,79,667.56 crore. This means that the market cap of BSE has seen a decline of Rs 5,88,111.2 crore in 105 minutes. This is also a huge loss for investors.

Which stocks fell?

Mahindra & Mahindra registered a 6.51 per cent drop on the National Stock Exchange on Wednesday. Shares of Hindalco are trading down 2.20 per cent. Shares of Tata Steel, TCS and HCL Tech are witnessing a drop of over one and a half per cent. Shares of the country’s largest company Reliance Industries are down around one per cent. On the other hand, shares of HDFC Bank are down 0.59 per cent.

Sagar Patel

Sagar Patel

I am Sagar Patel, specializing in business news reporting. With a keen focus on economic trends, market analysis, and corporate developments,

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