Stock market closed with heavy fall, Sensex fell 1,000 points
The stock market closed with a huge fall on the second day of the trading week (January 2023). Sensex on BSE closed at 70,420 with a fall of 1000 points. At the same time, Nifty on NSE closed at 21,246 with a fall of 1.51 percent. Cipla, Sun Pharma, Bharti Airtel, Hero MotoCorp were included in the list of top gainers during today’s trading. Whereas, IndusInd Bank, Coal India Limited, ONGC, SBI Life traded with a decline. BSE Midcap and Smallcap indices fell by 2 per cent. Except Pharma, all other sectoral indices traded in the red.
Selling in the broader market was deep and mid and smallcap indices slipped nearly 3 per cent. In the process, Dalal Street investors lost nearly Rs 8 lakh crore as the market capitalization of all BSE-listed stocks fell to Rs 366 lakh crore.
At the same time, during the day’s trading, the benchmark BSE Sensex fell by 981 points and traded at 70,467. Nifty also fell by more than 1.46 percent after reaching intraday high above 21,256. Along with this, heavy selling was seen in the broader markets due to the Nifty Midcap 100 and Nifty Smallcap 100 indices falling by more than 2 percent.
Among stocks, Zee Entertainment shares fell nearly 30 percent after its failed merger with the local unit of Japan’s Sony Corp, raising concerns about its survival in the highly competitive industry.
The stock market opened on the green mark on the second day of the trading week. Sensex opened at 71,868 on BSE with a jump of 500 points. At the same time, Nifty opened at 21,716 on NSE with an increase of 0.67 percent.
