The third trading day of the week was very bad for the investors of the Indian stock market. With a slow start, the decline intensified as the day progressed. The stock market crashed within two hours of trading. BSE’s Sensex slipped more than 860 points and NSE’s Nifty also fell sharply by 255 points. Due to this fall, investors’ wealth worth Rs 3.5 lakh crore was wiped out in one stroke.
Sensex rolled up to 869 points
Till the time of writing the news, by 11.30 am, the 30-share index Sensex of Bombay Stock Exchange had slipped 869.35 points or 1.43 per cent to reach the level of 60,109.40. At the same time, the Nifty index of the National Stock Exchange fell by 254.70 points or 1.41 percent and was trading at the level of 17,863.60.
strong selling in the stock market
With the opening of the stock market on Wednesday, the process of selling started and its pressure increased so much that the market crashed. There was a tremendous decline in the shares of public sector banks. They slipped by about three percent. At the same time, the shares of the companies of Asia’s richest man Gautam Adani are also trading badly.
Tsunami in Adani shares
During the day’s trading, shares of Adani Group led by Gautam Adani saw a sharp decline on Wednesday. Adani Ports fell 6.59 per cent to Rs 711.00, Adani Enterprises Ltd fell 2.93 per cent to Rs 3,341.20, Adani Wilmar Ltd fell 4.37 per cent to Rs 547.65 and Ambuja Cements Ltd fell 7.21 per cent to Rs 463.00. Doing business at the level.
Tremendous fall in banking stocks
The effect of tsunami in the stock market was also seen on banking stocks and shares ranging from State Bank of India to HDFC Bank fell heavily. Bank of Baroda shares fell the most and till the time of writing this news fell by 5.73 per cent. 167.75 had come to Rs.
Similarly, shares of Bank Of India fell 5.54 per cent to Rs 81.05 and Canara Bank fell 4.98 per cent to Rs 304.65. SBI shares fell by 3.71 per cent and came down to the level of Rs 572.30. At the same time, shares of HDFC Bank were trading at Rs 1,654.30, sliding 2.43 per cent.
The investors of these shares also got a shock.
The impact of the earthquake in the stock market was not limited to Adani Group’s companies and banking shares only. Shares of Tata Motors, Mahindra & Mahindra, Reliance Industries, Indus Towers saw a decline. Out of 30 Sensex stocks, 25 were trading on the red mark.