There was chaos in the Indian Stock Market on Monday due to the sound of recession in America. While the 30-share Sensex of the Bombay Stock Exchange fell below 80,000 with a huge fall of 1500 points, the Nifty-50 of the National Stock Exchange also fell by about 500 points. Amidst this huge fall, within minutes almost Rs 10 lakh crore of stock market investors were lost.
Today is ‘Black Monday’ for the stock market
The stock market opened badly on Monday 5th August amidst weak global signals. BSE Sensex opened at 79,671.48 with a fall of 1,310.47 points or 1.62 percent, while Nifty opened at 24,313.30 with a fall of 404.40 points or 1.64 percent. With the market opening, a sharp decline was recorded in 2368 shares, while a rise was seen in about 442 shares. This initial fall in both the market indexes increased further within a few minutes. At 9.20 am, the Sensex fell by 1,585.81 points or 1.96% to the level of 79,396.14, while the Nifty slipped by 499.40 points or 2.02% to the level of 24,218.30.
So much money was lost in one fell swoop
Due to this decline in the stock market, those investing in the stock market have suffered huge losses. On the one hand, where investors had to suffer a loss of about Rs 4 lakh crore due to the market crash last Friday, on the other hand, in just a few minutes on Monday, investors lost about Rs 10 lakh crore.
If we look at the BSE Market Cap, when the market closed last Friday, it was Rs 457.16 lakh crore, but when the Sensex fell by more than 1500 points, the market capitalization of BSE suddenly dropped to Rs 446.92 lakh crore. According to this, investors have suffered a loss of Rs 10.24 lakh crore.
These 10 shares went bust
Shares of Tata Motors, included in large cap companies, fell by 4.28% to the level of Rs 1050, while Tech Mahindra Share fell by 3.17% to Rs 1462. Tata Steel Share also fell badly after opening and slipped by 3.89% to reach Rs 150.
Among midcap companies, MotherSon Share slipped 7.53% to Rs 178, LIC Housing Finance Share fell 6.26% to Rs 701.60 and Bharat Forg Share slipped 5.44% to Rs 1565.30.
Talking about smallcap companies, Nucleus Share included in this category fell by 13.28% to Rs 1304.90, ACI Share fell by 7.16% and was trading at Rs 712. Apart from this, Kirloisker Brothers Share was trading down by 6.96% to Rs 2087, while Phoenix Ltd Share was down by 6.98% to Rs 3223.
(Note- Before making any kind of investment in the stock market, definitely take advice from your market experts.)