Monday, 26 February 2024
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Stock Market

Sensex drops 800 points, and the Nifty closes at 21,500

  • Benchmark indices ended January 30 with a decrease in closing values.
  • There was a 0.5–1% drop in the capital goods, FMCG, pharmaceutical, and power industries.
  • Market gains were mostly driven by Reliance Industries, which increased by around 7%.

Benchmark indices ended January 30 with a decrease in closing values; the Sensex lost 801.67 points and the Nifty 215.50 points. Reliance Industries, Titan Company, Bajaj Finance, UltraTech Cement, and NTPC were the top decliners on the Nifty.

Tata Motors, BPCL, Grasim Industries, Eicher Motors, and SBI, on the other side, were the top gainers. Except for PSU Bank and real estate, every other index finished in negative territory.

Asian stocks

There was a 0.5–1% drop in the capital goods, FMCG, pharmaceutical, and power industries. Whereas the Smallcap index finished the day unchanged, the BSE Midcap index saw a 0.5% decrease.

Due to robust purchasing in Reliance Industries and a surge in Asian markets, the major equity indices, Sensex and Nifty, increased by around 2% on Monday.

The Nifty increased 385 points, or 1.80%, to 21,737.60, while the BSE Sensex gained 1,240.90 points, or 1.76 percent, to close at 71,941.57. Wealth held by investors increased by Rs 6 lakh crore as the BSE Sensex increased by over 2%.

Increased to Rs 3,77,20,679.19 crore (USD 4.53 trillion), the market capitalization of companies listed on the BSE surged to Rs 6,08,556.11 crore. Market gains were mostly driven by Reliance Industries, which increased by around 7%.

Larsen & Toubro, Kotak Mahindra Bank, Titan, UltraTech Cement, Power Grid, Tata Motors, and NTPC were among the other notable winners. Seoul, Tokyo, and Hong Kong ended up in positive territory in the Asian markets, while Shanghai finished down.

The BSE smallcap index increased by 1.03 percent, while the midcap gauge recorded an increase of 1.68% on the overall market. The energy indexes experienced a 5.29 percent increase, with FMCG, IT, and tech showing the lowest performance.

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