There was once again an earthquake in the share market on Monday, where in just 10 minutes of the opening of the market, the hard-earned money of investors amounting to more than ₹ 15,00,000 crore was lost in no time. The rapid fall in Sensex and Nifty has deeply hurt all investors, big and small, new and old. Within a few minutes, there was a massive decline of lakhs of crores in market cap, causing an outcry on Dalal Street. This decline is not just a game of numbers, but a direct attack on the hopes, dreams and savings of millions of families. Which stocks sank the most? What caused the market to fall so rapidly? And now what will happen next? Let us discuss those major stocks which caused the most loss to investors and pushed the market into the biggest shock this time.
Huge reduction in market cap
During the morning session, the market cap of BSE listed companies declined to Rs 438 lakh crore from Rs 450 lakh crore in the previous session. That means there was a reduction of about Rs 12 lakh crore in the portfolios of investors. That means investors lost this much amount.
Shares of oil marketing companies took a dive
There was a huge fall in the shares of oil marketing companies and paint manufacturing companies during the trading on Monday morning due to the sharp rise in the prices of crude oil due to the increasing conflict in West Asia. The most pressure was on the results of oil companies. Shares of Hindustan Petroleum Corporation Ltd. fell 8.67%, while shares of Bharat Petroleum Corporation Ltd. fell 8.43%. At the same time, a decline of 7.29% was recorded in the results of Indian Oil Corporation Limited.
Meanwhile, global oil prices saw a sharp rise in Brent crude prices and it increased by 24.71% to reach $ 112.51 per barrel. The rise in crude oil prices also affected the results of paint companies. Shares of Asian Paints fell 5.12%, while Indigo Paints declined 4.83%. Apart from this, shares of Berger Paints India fell by 4.80% and shares of Kansai Nerolac Paints fell by 4.72%.
These stocks of large cap category gave a big blow
Stocks included in the largecap category of BSE fell sharply in this morning’s session. Among these, Indigo shares (8), SBI shares (5.90%), Tata Steel shares (4.99%), Asian Paints shares (4.71%), LT shares (4.7%), Maruti shares (4.67%), Axis Bank shares (4.02%) and Adani Ports shares (3.80%) were traded on Flipkart. Whereas in midcap, Hindustan Petroleum share (7.20%), Ashok Leyland share (5.10%), Federal Bank share (4.60%), Bharat Forge share (4.50%), Paytm share (4.40%) and IDFC First Bank share (3.80%) were trading in decline.
stock market collapse
At 12 noon on Monday, BSE Sensex was trading at a level of 77,118.01 with a fall of 1800.89 points, while NSE’s Nifty was seen trading at a level of 23,886.65 with a sharp fall of 563.8 points.
What did the expert say about the market?
Stock market expert Sunil Shah says that until the prices of crude oil come back around $75 and the situation in West Asia does not calm down or some kind of agreement is reached, it is difficult for the market to go up. He said that technical rebound may be seen from time to time, but the basic trend (undertone) of the market still remains weak i.e. bearish.
According to Sunil Shah, India imports about 70–75 percent of its energy needs. Therefore, the increase in energy prices has a direct impact on the GDP growth of the country. He further said that if GDP growth is not as per estimates, it will impact corporate India also. This affects the corporate earnings and top line of companies. If inflation increases due to high energy prices and earnings of companies decrease, then it will have a direct impact on the stock market and a decline may be seen in the market.
Latest Business News