The stock market’s ongoing rally came to a halt on Friday. The 30-share Sensex on the Bombay Stock Exchange closed over 260 points lower, while the Nifty on the National Stock Exchange closed below 26,200 points. While both market indexes hit record highs at the open, gains turned into losses by the close. During this period, the stocks of many large companies were scattered like a deck of cards.
Sensex retreats from all-time highs
Stocks opened slowly on Friday, the last trading day of the week, and were volatile throughout the day. The BSE Sensex opened at 85,893.84 points, slightly higher than its previous closing price of 85,836.12 points. But after an hour of trading, it gained momentum and reached a new all-time high of 85,978.25. After touching this level, gains in the Sensex turned into losses, with the 30-share index losing 264.27 points to end at 85,571.85 points after the close.
Nifty also fell below 26,200
Like Sensex, NSE Nifty also fell again after hitting all-time highs. Nifty started trading at 26,248.25 points and touched a low of 26,151 and a high of 26,277 during the day. Finally, the NSE index fell 40.90 points to close at 26,175.15 points.
Share prices fall from HDFC to ICICI
Amid the sudden drop in the stock market, shares of major companies plummeted. Meanwhile, shares of PowerGrid, which is included in large-cap companies, fell 3.03 per cent to close at Rs 354.20, while ICICI Bank shares fell 1.83 per cent to Rs 1,306.50. Shares of Bharti Airtel closed down 1.74% and HDFC Bank’s share price closed down 1.65%.
These mid-cap stocks are diversified
Shares of Paytm, the giant that provides online payment services, closed at Rs 672.40, down 4.66%, while Godrej Property Share fell 3.49% to close at Rs 3,191.30. Policy Bazar shares also fell 3.32% to Rs 1,638.75.
Apart from this, if we talk about stocks in the small-cap category, Kamopaints stock fell sharply by 20% to touch the level of Rs 46.65. Apart from this, JSWHL shares fell 6.88% to close at Rs 8,748.50, while Home First Share fell 6.57% to close at Rs 1,208.40.
(Note – Always take advice from market experts before making any kind of investment in the stock market.)
