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Thursday, December 2, 2021

Stock market continues for the sixth day, investors lost Rs 11.57 lakh crore

Two days later, the general budget is going to be presented on February 1. There is a strong sell-off in the stock market before the budget. The Economic Survey 2021 also failed to woo investors of the stock market. Due to this, on Friday, for the sixth consecutive day, the markets closed in a huge decline. Within a week, investors have lost Rs 11,57,928.54 crore. The BSE Benchmark Tanked closed 588.59 points, or 1.26 percent, down at 46,285.77 points in trading in the upheaval trading.

The Sensex has lost 3,506.35 points or 7.04 percent in six days. On Friday, the Sensex fluctuated in the range of 1,263.20 points overall during trading. NSE Nifty closed at 13,634.60 points, down 182.95 points, or 1.32 per cent. The NSE has lost 1,010.10 points or 6.89 percent in six days. Shares of 26 of the 30 Sensex companies fell.

Dr Reddys, Maruti suzuki, Bharti Airtel, Bajaj Auto, Infosys and TCS declined by 5.69 percent. On the other hand, IndusInd Bank, Sun Pharma, ICICI Bank and HDFC Bank closed up. It was up by 5.44 percent. During the day, Minister Nirmala Sitharaman presented the Economic Review 2020-21 in the Lok Sabha. She is scheduled to present the Union Budget for 2021-22 on Monday. The Economic Survey forecasts an 11 percent increase in gross domestic product (GDP) during the next financial year.

The Economic Review said that the country’s economy is going to return sharply after the decline due to the epidemic. The review also said that according to data from April to November 2020, the government may miss the fiscal target in the current financial year. Analysts believe that domestic markets have been witnessing a steady decline mainly due to profit-booking ahead of the Union Budget and important global developments. 16 out of 19 groups of BSE were in decline. 2.97 percent in telecommunications, 2.95 percent in vehicles, 2.63 percent in technology and 2.48 percent in information technology.

Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.
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