The Indian stock market closed in the red mark on Wednesday 24 March with a big fall. The benchmark indices Sensex and Nifty saw a big fall of around 1.8% amidst considerable volatility. The sell-off at the last minute was more intense amid volatility. Metal sector stocks were the weakest.
The BSE Sensex has now come down to 49,000 due to the fall. At the same time, the NSE Nifty 50 also closed near 14,550 due to weakness.
The big things of the business of 24 March-
The weakness in the BSE Sensex was 871 points. NSE Nifty lost 265 points.
At the time of closing the market, only 2 Sensex in 30 of the Sensex pack remained in the green mark. 50 shares of the Nifty Pack were broken.
The IPO of Barbecue Nation was subscribed 0.93 times for the first day at 3.39 pm. This issue is open to investors till 27 March.
The Nifty Smallcap 100 and Midcap 100 indices also weakened by about 2% due to a large decline.
The Volatility Index (VIX) is at 22.45 after a jump of 8.61%.
Open – 14,712.45
Close – 14,549.40
High – 14,752.35
Close – 49,180.31
High – 49,854.58
What was the reason for the decline in the market?
The biggest reason behinf the Big Fall in Stock market, was selling. Investors are worried about the ever-increasing cases of Corona. There was a clear hold of bears in the market amid weak signals from the overseas Sensex. There has been a slight rise in the bond yield in the US. Selling by foreign investors (FII) and domestic institutional investors (DII) continues. The market also broke down due to a lack of strength in technical charts.
Which sector did how well?
On Wednesday, almost all sector-based indices of the Nifty remained in the red mark. Bank, auto, financial services and reality index declined between 2% and 3%. Similarly, the metal index also fell 3.24%, falling significantly. Energy, the FMCG index saw a decline of 1.5%. The Nifty Pharma Index closed flat.
Nifty-50 shares seen the fastest in these stocks
Cipla (+ 1.82%)
Asian Paints (+ 1.36%)
Power Grid (+ 0.94%)
These shares of Nifty-50 are broken.
Tata Steel (-4.68%)
Tata Motors (-4.15%)
Adani Ports (-4.03%)
Mahindra & Mahindra (-3.75%)
Stocks that remain most active-
According to Value, Tata Motors, Reliance and Adani Ports were the three most active stocks in the Nifty. At the same time, according to the volume, the stock of Tata Motors, SBI and ONGC dominated.
What is the sign next?
The market will be affected by FII investment, signals from foreign markets, corona and news related to bond yields. Investors should be careful in the market and only trade in good stocks.