Winning Bizness Sports Desk
Mumbai. On the third consecutive day of the week, the Indian stock market saw a strong sell-off on Thursday and resultantly the stock market felt the shock and investors were hit hard. In the day's trading, the Bombay Stock Market index Sensex fell by 901 points to settle at 63,148 points. Meanwhile, the national stock market index Nifty fell by 265 points to close at 18,857 points. Three lakh crores of investors have been lost in the wave of fall in the market and investors are worried that US bond yields will keep interest rates higher for longer. The fall in the Asian markets is having an effect on the Indian stock market which has been falling for the last six sessions. This is the biggest fall in the Indian stock market in the last seven months.
Profit-booking trend prevailed
In the day's trade, profit-booking was prevailing in banking sector stocks. Hence, Nifty Bank closed down 552 points or 1.29 percent at 42,280 points. Apart from this, shares of auto, IT, pharma, FACG, metal, energy, consumer durables, healthcare, oil and gas sectors closed lower. The downward trend in mid cap and small stocks continued and the mid-cap index declined 1.16 percent or 448 points to close at 38,116 points, while the small-cap index declined 42 points to close at 12,930 points. Investors suffered huge losses due to sharp fall in the market. A trading day earlier i.e. on 25 October 2023, the total market cap of all stocks listed on BSE was Rs 309.22 lakh crore. While on 26 October 2023, it fell to Rs 306.21 lakh crore, which means that investors' capital decreased by Rs 3.01 lakh crore.
Share price of 2335 companies fell
According to the details available on the Mumbai Stock Exchange, shares of 3800 listed companies were traded. Among them, the shares of 1330 companies saw a boom while the share price of 2335 companies fell. There was no change in the share price of 143 companies. 78 stocks touched a 52-week high in the day's tradiing. Meanwhile, shares of 104 companies hit 52-week lows. The share price of no company hit the upper circuit. So, the share price of four companies started a lower circuit.
