Shares in HCL Technology, Infosys, TCS, Tech Mahindra, Tata Steel fall as investors’ assets wiped out
Mumbai, Dt
Domestic markets also closed with heavy losses on Thursday amid heavy selling in global markets. The 30-stock BSE benchmark Sensex fell more than 1,200 points. Amid widespread selling trend, both the Sensex and the Nifty ended the day with losses of over 2.50%. Market sentiment was also affected by the steady influx of foreign investors into the domestic market. The 30-share BSE Sensex fell by 1,419.60 points, or 2.31 per cent, to 9,9.5. During the day’s trading, it fell by 1.3.04 points to 9,8.21. The wide-based National Stock Exchange’s Nifty also fell by 30.60 points, or 2.3 per cent, to close at 19,303.50. Weak results were seen in the US stock market due to rising inflation and rising costs in consumer goods companies. Inflation in Britain is at a 40-year high. Indian stocks also fell sharply on Thursday after falling from 5.5 per cent to 5 per cent in the US. The Sensex, which opened at 1,000 points in the opening session, closed at 9,8, down 4.8 per cent, down 1,318 points at the end of the day. The Nifty 50 Index also declined by 3 points to close at 19,305. With today’s market crash, investors’ wealth has been wiped out by an estimated Rs 2 lakh crore. The market value of companies listed on the BSE fell from Rs 2.5 lakh crore to Rs. 2.08 lakh crore. Today the market has seen universal selling. Out of the 30 Sensex stocks, 8 fell and only 3 rose, including ITC, Dr Reddy and Power Grid. The same three stocks have risen in Nifty 50, i.e. the remaining 8 stocks have declined. IT stocks have been the biggest contributor to today’s market downturn. Infosys-TCS-Tech Mahindra-HCL and Wipro are down more than 3% today. Infosys contributed 4 points to today’s recession and Reliance contributed 15 points. Sensex companies include HCL Technology, Wipro, Infosys, TCS, Tech Mahindra, Tata Steel, IndusInd Bank and Kotak Mahindra Bank. On the other hand, ITC and Drs. Shares of Reddy’s closed higher. Except for Shanghai in China, Hang Seng in Hong Kong, Kospi in South Korea and Nikkei in Japan, other Asian markets had lower prices. European markets were also trading lower during the afternoon session. US markets also saw a decline on Wednesday. International oil benchmark Brent crude, meanwhile, fell 1.4 percent to ૭ 104.5 a barrel. According to information received from the stock market, the process of withdrawing foreign investors from the domestic markets is underway. On Wednesday, he paid Rs. 1,3.5 crore shares were sold.
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