Stock Market Fall: The beginning of the stock market was cautious, but during the trading, there has been heavy selling in the market. The Nifty has broken more than 200 points or 1 percent and is trading below 11750. At the same time, the Sensex is down by more than 650 points and it is trading near the 40000 level. There is all-round selling in the market. Be it banks or financial, IT or pharma, there is a decline in all sectors. Amidst this chaos in the market, investors have lost 2.3 lakh crores in one stroke. Bad stocks are in bad shape. What is the reason behind this decline in the market?
2.3 lakh crores setback to investors
Today, investors have suffered a setback of 2.3 lakh crores in the fall of the market. When the stock market closed on Friday, the market cap of BSE listed companies was 1,60,59,417.40 crore. At the same time, in the fall of the market, it reduced to 1,58,27,547.12 crore. That is, today it has decreased by about 2.3 lakh crores.
These 4 stocks can give returns up to 26%, choice of brokerage made after quarterly results
Pressure will remain till election in America
Nirali Shah, Senior Research Analyst, SAMCO Securities, says that the position of the market will remain in the US till the Presidential election. He says that strong resistance is seen at 12000 level for Nifty. There is a Presidential election in the US and the news coming from there will have an impact on the market. The S & P500, DAX and CAC are also underperforming. In the coming days, there will be support for the Nifty at the bottom level of 11600. At the same time, resistance will remain at 12050 level.
Sells in largecap shares including RIL
In today’s business, selling in largecap stocks is being seen. RIL has seen a decline of around 4 per cent after the deal with Future Group was stuck. There is a 6 percent decline in Bajaj Auto. Tata Steel is down 4 percent. M&M and ICICI Bank are seeing weakness of around 3.5 per cent. Tech Mahindra is also down by more than 3 percent. 24 stocks of Sensex 30 including SBI, Maruti, Asian Paints and Titan are in red mark.
Just started investing in the stock market, keep these 4 things in mind
Heavy selling in metal shares
There is a huge sell-off in metal stocks in today’s trade. The index has lost nearly 4 percent on the Nifty. JSWS Steel is down more than 4 percent. SAIL also has a weakness of about 3.7 percent. Tata Steel, Coal India is also down 2.5 to 3%. JSWS Steel presented weak quarterly results.
Weak foreign signal
The domestic market is also receiving weak signals from global markets. In the US, there has been a sudden rise in cases of Covid 19. At the same time, things are also not clear on the relief package. There is political instability in the US over the presidential election. This creates pressure in the US market. The Dow Future is down by over 100 points. On Friday, the Dow Jones lost 28.09 points and closed at the level of 28,336. At the same time, weakness is visible in most Asian markets.
Selling in bank and auto stocks
Banks and auto stocks are also sold in today’s business. The bank index on the Nifty has lost nearly 2.5 percent. At the same time, the auto index is down around 3.5 percent. ICICI Bank is down more than 3 percent and SBI is down 3 percent. Ashok Leyland and Mahindra & Mahindra are seeing a decline of around 3%.
Source: www.financialexpress.com
#Shock #lakh #crores #investors #market #fell #drastically #Sensex #breaks #points
