Mumbai: The third trading day of the week was very bad for the Indian share market investors. With the slow start, there is investor outrage. The stock market crashed within two hours of trading. BSE’s Sensex fell over 860 points and NSE’s Nifty also fell over 255 points.
Sensex plunged to 869 points
The Bombay Stock Exchange’s 30-share index Sensex was down 869.35 points, or 1.43 percent, at 60,109.40 by 11.30 am on Wednesday. Along with this, the Nifty index of the National Stock Exchange was trading at the level of 17,863.60 down by 254.70 points or 1.41 percent.
A strong sell-off in the stock market
As soon as the stock market opened on Wednesday, the selling process started and the pressure increased to such an extent that the market crashed. Shares of public sector banks saw a steep decline. They fell by around three percent. Along with this, shares of Asia’s richest man Gautam Adani’s companies are also trading badly.
Adani shares fall
Shares of Gautam Adani-led Adani Group companies saw a sharp decline during the day’s trading on Wednesday. Adani Ports fell 6.59 percent to Rs. 711.00, Adani Enterprises Limited fell 2.93 percent to Rs. 3,341.20, Adani Wilmar Limited fell 4.37 percent to Rs. 547.65 and Ambuja Cements Limited fell by 7.21 percent to Rs. Doing business at 463.00 level.
Banking stocks fall sharply
The impact of the tsunami in the stock market was also seen in banking stocks, with stocks ranging from State Bank of India to HDFC Bank falling sharply. Bank of Baroda was the biggest loser. Till now there was a decrease of 5.73 percent.167.75 Rs. arrived at
Along with this, the share of Bank of India fell by 5.54 percent to Rs. 81.05 and the share of Canara Bank fell by 4.98 percent to Rs. 304.65 was reached. Shares of SBI fell 3.71 percent to Rs. came at the level of 572.30. At the same time, shares of HDFC Bank fell 2.43 percent to Rs. was trading at 1,654.30.
Investors of these stocks also got a shock.
The fallout in the stock market was not limited to Adani Group companies and banking shares. Shares of Tata Motors, Mahindra & Mahindra, Reliance Industries, Indus Towers declined. 25 of the 30 Sensex stocks were trading in the red.