Big Correction in Stock Market: There is a strong selling in the stock market before the budget. In the business of 27 January, profit recovery in the market has been dominating. The Sensex broke more than 1000 points due to heavy selling by investors. At the same time, the Nifty also fell more than 300 points and went below 14000. The SENSEX set its record high on January 21 and touched a level of 50184. Since then, the index has broken about 2900 points so far. The Nifty also weakened the rebound by 800 points from its record high. After the high valuation, Niveyak is cautious before the budget, while weak global, weak global signals, budget signals and selling by foreign investors also led to the decline in the market.
Sensex broke 1000 points
Today, the index is down more than 1000 points in intraday and weakened to the level of 47269. At the same time, the Nifty dropped by around 300 points to around 13930 below 14000. There is an all-round selling in the market today. All indexes including banks, auto, metal and pharma have weakened.
Investors lost 3 lakh crores
Amidst this stampede in the market, the wealth of investors has decreased by Rs 3 lakh crore. On Monday, 25 January, the market cap of BSE listed companies closed at Rs 19226222 crore. On the 27th of January, in the fall, it came down to around 1.89 lakh crore. That is, investors lost about Rs 3 lakh crore in one day.
The main reason for selling in the market
Investors are cautious before budget: Investors have to be cautious before the budget before selling in the market. Actually, the market valuation is still high. On January 21, the Sensex crossed the 50 thousand mark, after which the experts have expressed concern about the valuation. In such a situation, a negative trigger in the budget can cause a heavy correction in the market.
Weak Global Signals: Global signs have been weak for the market. On Tuesday, the major three US markets were in decline. The Dow Jones fell 23 points to close at the level of 30937. Nasdaq S&P 500 indexes also closed weak. Today, in the Asian markets, the SGX Nifty is down 0.70 percent.
Foreign investors sell: Market sentiments have also deteriorated due to the selling of foreign investors. FIIs 2 are continuously sold out from the session. On January 25, he removed 756 crores from the market, before that, on the business day of January 22, he sold 636 crores.
Budget 2021: GST and import duty on gold to be cut in the budget, CTT on gold derivatives
Top gainers, top losers
In today’s trade, 22 stocks of Sensex 30 are sold. Top gainers include Tech Mahindra, Ultratech Cement, L&T, ITC, Nestle India and Bajaj Auto. At the same time, Dr. Reddys, Axis Bank, IndusInd Bank, Titan Company, HDFC Bank, HDFC, Sun Pharma and ICICI Bank are included.