Chaos in the stock market, investors lost Rs 4 lakh crore

Mumbai (Uttam Hindu News)- HDFC Bank’s loan-deposit ratio has reached dangerous levels in the quarterly results released locally amid the decline in the world market due to interest rate cut and weak sentiment of investors struggling with the hope of China’s economy getting back on track. There was chaos in the stock market today as the shares of this heavyweight bank fell by about eight and a half percent. BSE’s 30-share sensitive index Sensex plunged 1628.01 points or 2.23 percent to 71,500.76 points, below the psychological level of 72 thousand points. Similarly, Nifty of National Stock Exchange (NSE) fell by 460.35 points or 2.09 percent to below 22 thousand points at 21,571.95 points. During this period, like big companies, there was heavy selling in medium and small companies of BSE also. Due to this, Midcap fell by 1.09 percent to 37,597.29 points and Smallcap fell by 0.90 percent to 43,963.89 points.

Shares of a total of 3900 companies were traded on BSE, out of which 2510 were sold while 1301 were bought while 89 remained unchanged. Similarly, 39 companies of Nifty fell while 10 remained bullish while the prices of one remained stable. In BSE, except Tech, Consumer Durables and IT groups, which gained up to 0.54 percent, the trend of 17 groups was negative. During this period, the banking group suffered the maximum loss of 4.02 percent. Also Commodities 2.31, CD 1.17, Energy 0.88, FMCG 0.84, Financial Services 3.76, Healthcare 0.66, Industrials 0.38, Telecom 1.94, Utilities 1.03, Auto 1.28, Capital Goods 0.19, Metals 2.86, Oil & Gas 0.93, Power 0.88, Realty 1.47 And services group shares fell 1.41 percent. It is estimated that investors lost Rs 4 lakh crore. There was a declining trend at the international level. During this period, Britain’s FTSE fell by 1.62, Germany’s DAX by 0.97, Japan’s Nikkei by 0.40, Hong Kong’s Hang Seng by 3.71 and China’s Shanghai Composite fell by 2.09 percent. In early trade, Sensex opened with a huge fall of 1130 points at 71,998.93 points but after some time of buying, it reached the highest level of 72,484.80 points. At the same time, due to selling pressure, it fell to a low of 71,429.30 points in the last phase of trading. In the end, it dropped by 2.23 percent to 71,500.76 points as compared to the previous day’s 73,128.77 points. Similarly, Nifty also opened at 21,647.25 points with a fall of 385 points and remained at a high of 21,851.50 points and a low of 21,550.45 points during the session. In the end, it fell 2.09 percent to 21,571.95 points compared to the previous day’s 22,032.30 points. During this period, among the 24 companies which were on the decline in Sensex, HDFC Bank suffered the maximum loss of 8.46 percent. Also Tata Steel 4.08, Kotak Bank 3.66, Axis Bank 3.18, ICII Bank 2.85, JSW Steel 2.39, Bajaj Finserv 2.38, SBI 1.67, Asian Paint 1.67, Tata Motors 1.63, IndusInd Bank 1.59, Bajaj Finance 1.55, Maruti 1.33, Mahindra & Shares of Mahindra 1.31, ITC 1.12, Sun Pharma 1.09, Ultrasimco 0.97, Bharti Airtel 0.93, Reliance 0.90, NTPC 0.71, Wipro 0.56, Hindustan Unilever 0.17, Titan 0.14 and LT also fell 0.06 percent.
Whereas, shares of HCL Tech 1.34, TCS 0.60, Infosys 0.55, Tech Mahindra 0.54 and Nestle India gained 0.08 percent.