Sensex and Nifty crashed today after several days of rally. The Sensex fell by 750 points in two minutes as soon as the market opened. On the other hand, Nifty also saw a decline of more than 100 points. Due to this fall, stock market investors lost Rs 2.14 lakh crore in just two minutes. The reason for the decline in the stock market is being attributed to foreign markets, where a big decline has been seen. On the other hand, profit booking by investors is also being considered as a major reason for this. By the way Sensex is trading at 67000 points. If experts are to be believed, in the coming days Sensex can be seen breaking the barrier of 70 and Nifty 21 thousand points, before that the biggest challenge of Nifty is the barrier of 20 thousand points.
Fall in Sensex and Nifty
There is a big decline in both the major indices of the stock market. The Bombay Stock Exchange's major index Sensex was trading at 66,822.15 points, down 750 points two minutes after the market opened. Sensex is trading at 66,976.69 points with a fall of 595.21 points at 9.45 am. On the other hand, there has been a big decline in Nifty 50 as well. According to the data, the Nifty is trading with a decline of 152 points at 19,826.40 points. By the way, today Nifty also went to 19,887.40 points. If Nifty recovers then this level can go beyond 20 points.
Big decline in IT companies
The biggest reason for the decline in the stock market is considered to be the decline in IT companies. Infosys shares are witnessing a decline of about 8 per cent and remains the top loser in the Nifty. There is a decline of about 3 percent in the shares of HCL. Wipro shares have fallen by about two per cent. TCS stock is trading with a decline of 1.65 per cent. On the other hand, profit booking is also being seen in the shares of Hindustan Unilever and is down by 1.62 per cent.
2.14 lakh crore of investors drowned in two minutes
Due to the fall in the stock market, the stock market investors lost more than Rs 2 lakh crore in two minutes. The profit and loss of investors is linked to the market cap of BSE. When the BSE closed a day ago, the market cap stood at Rs 3,04,04,787.17 crore. On the other hand, when BSE was trading at 66,822.15 points at 9.17 am today, the market cap came down to Rs 3,01,90,520.52 crore. This means that within two minutes of the market opening, investors lost Rs 2,14,266.65 crore. By 10 o'clock the market cap of BSE had reached 3,03,39,951.78 crore.
