stock market crash
– Photo: amarujala.com
Big selling was seen in the stock market on Wednesday. The Bombay Stock Exchange Sensex fell nearly 800 points or one per cent, falling below the 67,000-mark. During trading it touched the day’s low of 66,728 points. At the same time, Nifty of National Stock Exchange fell by 1.18 percent or 238 points and reached 19,895 points. During this period, Sensex fell by 796.00 (1.17%) points and closed at the level of 66,800.84, while Nifty fell by 231.90 (1.15%) points and closed at the level of 19,901.40. The market capitalization of all BSE listed companies declined by Rs 2.95 lakh crore to Rs 320.04 lakh crore.
Domestic benchmark indices opened lower on Wednesday led by losses in major stocks like HDFC Bank, Reliance Industries and Infosys as US bond yields hit a 16-year high ahead of the US Federal Reserve meeting results.
Among Sensex companies, shares of HDFC Bank, Reliance Industries, JSW Steel, Maruti and UltraTech Cement declined. HDFC Bank on Monday said its gross non-performing assets (NPAs) are likely to increase from July 1 following the merger with HDFC Bank. HDFC shares fell by up to three percent on Wednesday.
Shares of the company rose 3% after Bharat Dynamics signed a contract worth Rs 291 crore with the Indian Air Force. Sector wise, Nifty Financial Services declined by 0.87% and Nifty Bank declined by 0.68%. FMCG, IT, Pharma, Realty and Healthcare sectors also opened with a decline. In the broader market, Nifty Midcap 100 rose 0.05%, while Smallcap 100 opened flat.