On Thursday, recession is being seen in the stock market since morning. Talking about 1 pm, a fall of 900 points was seen in the Sensex. By the time of closing at 3.30 pm, the Sensex was down by 1,190 points and closed at 79,166 points. While Nifty fell by 360 points and closed at 23,914 points.
Why is the market falling?
The reason behind this sudden fall in the stock market was uncertainty about the cut in interest rates by the US Fed and selling in IT shares, Sensex points and Nifty points fell below the level of 24 thousand.
So many Sensex shares are in red mark
If we look at the chart of 30 Sensex stocks, 29 of them reached the red mark at the time of market closing. The only stock to close in the green in the charts was SBI, which rose 0.59 per cent.
Many stocks of Nifty 50 are in red
If we look at the chart of 50 Nifty shares, apart from shares of 4 comp.es, shares of 46 comp.es closed in the red. The stocks that saw gains in Nifty 50 include AD.ENT, SHRIRAMFIN, SBI and CIPLA.
How much did the market cap fall?
The market cap of all the comp.es listed on BSE is Rs. 1.52 lakh crore reduced to Rs 1.52 lakh crore. Reached Rs 442.96 lakh crore. IT shares fell as much as 4% as US inflation data showed the pace of interest rate cuts would be slower than expected.
On the other hand, shares of Ad. Group comp.es rose as much as 9.3% after the group clarified that its chief executives were not accused of violating the US Foreign Corrupt Practices Act in an indictment last week.
Rise in these shares of Ad.!
Ad. Energy Solutions and Ad. Total Gas were the top gainers, rising 9% and 9.3% respectively. Ad. Green Energy shares also rose 8.3% to Rs. The single-day high reached 1,072. Shares of Ad. Power, Ad. Enterprises, Ad. Wilmar and Ad. Ports rose up to 5%.
