The Indian stock market had a very disappointing start on Thursday amid weak global cues. After the previous day’s rise, there was heavy selling pressure from investors as soon as the market opened today. As soon as the stock market opened, the main indices started diving deep into the red. While Sensex fell by almost 600 points, Nifty also slipped below the level of 23,250 with a huge fall of more than 215 points.
At the beginning of trading, the Bombay Stock Exchange (BSE) Sensex opened at 74,214.30 with a huge fall of 613.95 points. On the other hand, Nifty 50 of National Stock Exchange (NSE) also fell by 215.90 points to 23,230.90. The selling situation in the market was such that only 806 shares saw a rise in the morning session, while 1,591 shares were trading in the red and there was no change in the prices of 173 shares.
Bajaj Finance fell more than 5%
According to the data of Sensex Heatmap, today the banking and finance sector giants had a big role in pulling the market down. Bajaj Finance shares fell by a huge 5.13% to ₹986.70. Meanwhile, Axis Bank fell 3.50% to trade at ₹1,201.00 and Bajaj Finserv fell 3.35% to ₹1,784.15. Indigo and Kotak Mahindra Bank also declined by 1.89% and 1.45% respectively. Apart from this, a huge decline was also recorded in the shares of HDFC Life and SBI Life Insurance.
These stocks showed courage even in the period of decline
Amidst the all-round selling environment in the market, only a few stocks could remain in the green. Tech Mahindra was seen trading 0.92% higher at ₹1,569.30, while Sun Pharma rose 0.29% to ₹1,870.35.
Why did the market fall today?
It is being told that due to slowness in international markets and uncertainty at the global level, investors thought it better to book profits today. There was extreme selling pressure, especially on banking and financial stocks, which pushed the entire Indian market deep into the red.
Also read- Heavy selling by FPIs continues in September, shares worth ₹ 20,974 crore sold so far
SK Sharma is a content writer who writes on news, entertainment, and lifestyle topics. She has over four years of experience and is known for conveying information in simple and clear language.
