Stock market witnesses biggest drop in last 6 months

There was a big fall in the stock market on Thursday and the BSE Sensex fell by 1,159 points. In the last 6 months, this is the biggest fall in the stock market in any single day. On the last day of settlement of deals in the futures and options segment for October 2021, the market came down due to selling by investors amid weak global trend and non-compliance with the expected financial results of the companies.

Such a big decline was seen after 6 months

There was heavy selling pressure in banks, FMCG companies and energy stocks on Thursday. Along with this, midcap and smallcap (medium and small companies) were also in heavy losses. This has happened because this fall has been recorded in the stock market for the second consecutive day and the 30-share Sensex closed at 59,984.70 points with a dive of 1,158.63 points or 1.89%. This is the biggest decline since April 12 this year. The Sensex fell 1,708 points on that day.

Banks suffered heavy losses

Similarly, the Nifty of the National Stock Exchange (NSE) fell 353.70 points or 1.94% to close at 17,857.25 points. ITC was the biggest loser in the Sensex shares with a fall of 5.54%. The stock has come down due to the company’s financial results released on Wednesday not being up to expectations. ITC’s net profit grew by 10.9% in the second quarter of the current financial year. Apart from this, ICICI Bank, Kotak Bank, Axis Bank, SBI and HDFC Bank were the major losers. Of these, a decline of up to 4.39% was registered. On the other hand, IndusInd Bank, L&T, UltraTech Cement, Asian Paints, Maruti and Bajaj Finance were the gainers, out of 30 Sensex stocks, only 6 were gainers.

Significantly, due to the fall in the market on Thursday, the investors lost Rs 4.82 lakh crore.