Stock market sees biggest dip in last 7 months on weak global cues
The stock market fell for the fourth consecutive day on Monday. This is the biggest single day fall in the stock market since April this year. Due to this fall, investors have been reported to have lost more than 7 lakh crore in a single day. Along with the broader markets, there has been a sharp decline in all sectors. The primary reason ascertained to this decline is lockdown in some European nations due to rising corona cases.
BSE and NSE fall by about 2 percent
PSU stocks were hit by the repeal of agricultural laws. Also, investors who have invested in IPO are facing difficulties. Apart from this, inflationary pressure on demand is being seen on many sectors, which has worked to increase the concern of the market. The 30-share index Sensex closed at 58.465.89 on Monday, down 1170.12 points or 1.96 per cent. At the same time, the NSE index Nifty closed at 17,416.55, down 348.25 points.
Paytm shares fall for the second consecutive day
Shares of Paytm (parent company One97 Communications) fell for the second day on Monday. The company’s shares closed at 1,360.30, down 13.03 per cent on the BSE. Paytm shares had hit a low of Rs 1,271.25 during the day’s trading. However, there was some recovery after that. Paytm shares have fallen nearly 40 per cent from the price band of Rs 2,150. Shares of Policybazaar (parent company PB Fintech) saw a decline of 6.6 per cent. Apart from this, the shares of Sigachi Industries, which was in the news due to its excellent listing, closed with a lower circuit of 5 per cent at 543.55.
27 out of 30 Sensex stocks fell
If we talk about BSE Sensex, then 27 out of 30 stocks saw a decline. The biggest fall of 5.74 percent came in the shares of Bajaj Finance. In the Sensex, only the shares of Airtel, Asian Paints and PowerGrid closed on the green mark. Shares of Airtel closed at Rs 742.05, up 3.90 per cent.
