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Stock Market Today: The Indian stock market witnessed a huge decline on Monday, causing investors to lose about Rs 9 lakh crore. The Sensex fell 638 points to close at 81,050 and the Nifty fell 218 points to close at 24,795. Midcap and smallcap stocks fell the most, while only the IT index saw a slight increase. Market experts consider it a consolidation phase, which has caused concern among investors.
Sensex and Nifty fell.
The Sensex fell 638 points to close at 81,050. The Nifty also fell 218 points to close at 24,795.
Decrease in market cap.
The market cap of all companies on the Bombay Stock Exchange (BSE) decreased by Rs 9 lakh crore. Earlier it was Rs 461 lakh crore, now it has come down to Rs 452 lakh crore.
Loss in midcap and smallcap
Midcap and smallcap stocks saw a bigger decline. The Nifty Midcap 100 index fell 1,174 points (2.01%) to 57,300. The Nifty Smallcap 100 index also fell 515 points (2.75%) to close at 18,242.
What happened in which index?
Only the IT index saw a slight increase. All other indices closed in the red.
Sectors with the biggest losses
Auto, PSU banks, financial services, pharma, FMCG, metals, realty, media, energy, infrastructure, and private banks were the biggest losers.
Top Gainers and Losers
Some of the companies that made gains in the Sensex pack include ITC, Bharti Airtel, M&M, Infosys, Bajaj Finance, TCS, and Tech Mahindra.
At the same time, NTPC, SBI, Power Grid, IndusInd Bank, Axis Bank, HDFC Bank, Titan, UltraTech Cement, Tata Steel, Reliance, JSW Steel, Nestle, L&T, HUL and Kotak Mahindra Bank suffered the biggest losses.
Opinion of experts
Market experts say that the Indian stock market has gone into a consolidation phase. It is performing less than other Asian markets.
The impact of foreign investors
The market is witnessing a decline due to premium valuations. Foreign investors are going to China due to attractive valuations in the markets.
Crude Oil Prices
The increase in crude oil prices is also putting pressure on the Indian market. This situation remains a matter of concern for investors.
It is worth noting that many factors are responsible for the fall in the Indian stock market. Investors need to pay attention to the future situation.
