stock market
The fire of the latest conflict that broke out between Iran and Israel in West Asia has directly reached Dalal Street. The rapid drone and missile attacks by Iran on Israel late on Sunday night have created fear among investors across the world, the effect of which was visible in the form of heavy fall of Sensex and Nifty as soon as the market opened on Monday morning. The market cap of companies listed on BSE has fallen by more than ₹ 4 lakh crore.
A big decline is being seen in the market on the very first day of the week. The main index Sensex of Bombay Stock Exchange (BSE) opened with a huge fall of 763 points or 1.03 percent at the level of 73,480. At the same time, Nifty 50 of National Stock Exchange (NSE) was also seen trading at the level of 23,111, falling by 255 points.
Investors got a shock of ₹4.42 lakh crore
The effect of the stampede in the stock market was that a large part of the investors’ hard-earned money was lost in a moment. If we look at the figures, on June 5, the total market cap of all the companies listed on BSE was around ₹ 461.10 lakh crore, which fell to ₹ 459.44 lakh crore as soon as the market opened today. In this one stroke, there has been a huge loss of ₹ 4.42 lakh crore in investors’ capital.
The condition of Sensex can be gauged from the fact that most of its 30 leading stocks are trading in the red. In this recession of the market, Sun Pharma and Tech Mahindra were the only two stocks which kept themselves afloat with slight gains. Heavy selling pressure was seen in all the remaining shares.
Some relief in pharma and IT
Amidst this all-round selling of the market, the trend of investment has completely changed. Investors are withdrawing their money from risky sectors and investing it in areas considered safe. This is the reason why minor buying was seen in some selected shares of pharma and IT sector. There were slight gains in stocks like Sun Pharma, Tech Mahindra and Dr. Reddy’s, which became a support for investors in this difficult period.
However, on the other hand, sectors like auto, metal, finance and reality have been hit the most. Big stocks like Wipro, Hindalco, Indigo and Tata Motors DVR saw a decline of 2 to 3 percent. Investors of Bajaj Finance have also got a big shock today, as the share has fallen by more than 2 percent.
Disclaimer: This article is for information only and should not be considered as investment advice in any way. TV9 Bharatvarsha advises its readers and viewers to consult their financial advisors before taking any money-related decisions.
