Profit-taking stalled the stock market, costing investors millions of rupees

MUMBAI: The all-time high in the Indian stock market has come to a halt after a historic three-day rally. The benchmark Sensex fell 25 points to close at 49492 on Wednesday. So the Nifty closed at the level of 14564 in the strength of only one and a half points. The Sensex touched an all-time new intra-day high of 49,795 during the session. Similarly, the Nifty fell after touching a new intra-day all-time high of 14,653 during the session.

Today, the market has fallen on the back of huge profits in finance and banking stocks. Today, 15 out of 30 blue chip stocks in the Sensex fell. Bajaj Finance topped the list with 2.9 per cent, HDFC 2.7 per cent, Bajaj Finserv 2 per cent, Titan 1.5 per cent, Sunpharma and Dr. Shares of Reddy’s Lab were down 1.5 per cent. So 24 out of 50 stocks in the Nifty benchmark index fell. Today, the midcap index fell 0.63 per cent to close at 19087 and the smallcap index fell 0.4 per cent to close at 18922.

Investors’ wealth declines, erosion in BSE’s marketcap

The BSE’s market cap also fell to a record high today after a three-day historic rally in the stock market. Today, the BSE’s total market cap fell by Rs 0.41 lakh crore to Rs 197.05 lakh crore. Last Tuesday, the BSE market cap was at an all-time high of Rs 197.46 lakh crore.

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