Markets halt 9 day gain momentum; Sensex slips 520 points, Nifty below 17750
On the first trading day of the week, the stock market took a break on the gains of the last nine days. Sensex lost 520.25 points to close at 59,910.75 on Monday. On the other hand, the Nifty lost 121.15 points to close at 17,706.85. The rupee declined by 13 paise to close at 81.98 (provisional) against the US dollar. Due to the sharp selling in the shares of the IT sector in the stock market, a decline was registered. Infosys shares plunged up to 11 per cent intraday and closed down 9.3 per cent.
Despite the fall in the market, the market cap of the companies listed in BSE increased
Despite the fall in the domestic equity market, the broad trend was up. Shares of Oil & Gas, Realty, Power, Energy and FMCG sectors closed on the green mark. BSE’s Midcap and Smallcap shares index registered gains of 0.56% and 0.13% respectively. The total market cap of companies listed on BSE increased to Rs 265.95 lakh crore on April 17 from Rs 265.93 lakh crore in the previous trading session i.e. on April 13 (Thursday). Thus investors made a profit of around Rs 2,000 crore in today’s trade. Of the 30 Sensex stocks, 16 closed on the green mark.
