Today proved to be very bad for the investors in the stock market. The stock market was in freefall. The markets, which started in the morning with a slide, continued to tumble down. At closing time, the Bombay Stock Exchange, the 30-share BSE Sensitive Index Sensex was trading at 31,715.35 with a big fall of 2002.27 points or 5.94%. There is a situation of heavy decline in other markets also. The Nifty, an index based on 50 shares of the National Stock Exchange, closed trade at 9293.5 with a heavy loss of 566.40 points or 5.74%.
Even the news of investment in Reliance Jio could not curb the decline
Experts say that there has been news this morning that an international company Silver Lake is investing crores of rupees in Reliance Jio. Despite this, there is a selling environment in the market. Just a few days after Facebook invested Rs 43,574 crore in Reliance Industries’ telecom business Jio, Silver Lake also agreed to invest Rs 5,655.75 crore in the company on Monday. One of the world’s largest technology investors will buy a 1.15 percent stake inJio Platforms. Silver Lake will pay a 12.5 per cent premium to Facebook for this deal. The company can later invest more strategically and financially in Jio.