Stock market crashed, Sensex slipped 692 points
Delhi. Tuesday’s trading session was a loss for the Indian stock market. The main indices closed in the red due to the fall in big stocks like HDFC Bank, Bajaj Finance, Tata Steel and SBI. At the end of trading, the Sensex fell 692 points or 0.87 percent to 78,956 and the Nifty slipped 208 points or 0.85 percent to 24,139.
The decline was led by banking stocks. Nifty Bank closed at 49,831, down 746 points or 1.48 percent. Heavy selling in HDFC Bank is believed to be the reason for the decline in the banking index. The stock of the country’s largest private bank slipped 3.46 percent during the trading session. The decline also affected midcap and smallcap stocks.
The Nifty Midcap 100 index fell 449 points or 0.78 per cent to 56,881 and the Nifty Smallcap 100 index fell 240 points or 1.30 per cent to 18,203.
Sector-wise, the biggest decline was seen in the auto, PSU bank, metal, energy and private bank indices. At the same time, IT, consumer durables and healthcare indices closed in the green. Titan, HCL Tech, Nestle, Wipro, Sun Pharma, M&M and Reliance were the top gainers in the Sensex pack. HDFC Bank, Tata Steel, Bajaj Finance, SBI, Tata Motors and JSW Steel were the top losers. Market experts say that the IIP data released on Monday was very weak, indicating low growth in the manufacturing sector. The mixed performance of global markets is one of the reasons for the weak performance of the domestic market. The market is focused on quarterly results.
