Stock Market: The Sensex slipped below the 50 thousand level during trading. The Sensex fell 1078 points to 49,811.13. At the same time, the Nifty lost more than 240 points.
Heavy drop in market (indicative picture)
Due to mixed global cues, the domestic stock market is seeing a big decline on the first day of the week. The decline in the Sensex and Nifty has increased after a weak start. During the business, the Sensex slipped below the 50 thousand level. The Sensex fell 1078 points to 49,811.13. On the other hand, the Nifty declined by over 240 points. Weakness in heavyweight Reliance Industry (2%), HDFC (2.70%), TCS (2.74%) and Infosys (1.13%) has put pressure on the market. All sectors except Nifty Metal are trading in red mark in sectoral index. Nifty metal has gained more than 3 percent due to buying in metal shares.
Along with heavyweight stocks, midcap and smallcap stocks also dominate selling. The midcap index of BSE is trading down by 0.97 percent. Smallcap stocks also see weakness. The BSE smallcap index has lost 0.52 percent.
Over 3 lakh crore rupees lost to investors
All-round selling in the market has given a major blow to investors on Monday. More than 3 lakh crores of investors have drowned. The market cap of the BSE listed companies on 19 February was Rs 2,03,98,381.96 crore, which has come down to Rs 2,00,68,972.33 crore from Rs 3,29,409.63 crore today.
Reliance got supreme shock
A major decision of the Supreme Court on Reliance and Future Group has come out. The court has currently issued a stay order on this deal. After the shock from the court, the shares of Reliance are seen falling. After the fall, the market cap of Reliance decreased to Rs 13 lakh 11 thousand 706 crore. Last week, its market cap was Rs 13 lakh 18 thousand 952 crore. In this way 7246 crores of investors were drowned.
Foreign investors are kindly in spite of the fall in the market
Even though the stock market has seen a decline from the last few trading sessions, foreign investors are still kind to the Indian market. According to the stock market data, FPI invested Rs 24,204 crore in equity and Rs 761 crore in debt segment. Thus, the total investment between February 1 and February 19 was Rs 24,965 crore.
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