Stock market update 28 Feb: Selling pressure continues in market
On the last trading day of the week today i.e. Friday (28 February), the Sensex has fallen by more than 1400 points (1.86%). It is trading at the level of 73,200. Nifty has also fallen by about 450 points (1.61%) to the level of 22,100.
BSE Small Cap has fallen by 1450 points (3.28%) and is trading at 42,666. Mid Cap has also fallen by 1450 points (2.90%) and has come down to the level of 38,301.
Out of 30 stocks of Sensex, 27 were down and only three were up. Out of 50 stocks of Nifty, 45 were in the red and only 5 were up. All sectoral indices of NSE were down today.
The biggest decline was in Nifty IT by 3.27%, Auto by 2.65%, Media by 2.50%, Public Sector Banks by 2.05% and Metal by 1.82%. Apart from this, Pharma, Banking, FMCG and Financial Services declined by up to 1%.
Investors’ wealth decreased by Rs 7.5 lakh crore
The wealth of investors decreased by Rs 7.5 lakh crore due to the sell-off in the stock market. The overall market cap of companies listed on BSE at 10 am on Friday, 28 February was Rs 385 lakh crore. On February 27, it was around Rs 393 lakh crore.
3 reasons for the decline in the market
The third quarter GDP data will be released today. Before this, investors are cautious. India’s economy is estimated to grow at a rate of 6.3% in this quarter. The increase in government spending helped to compensate for the weakness in domestic demand. However, the estimate regarding further growth is slightly restrained.
On Thursday, US President Donald Trump confirmed that a 25% tariff on Canada and Mexico will come into effect from March 4. In addition, an additional 10% tariff will be imposed on China from March 4 along with the already imposed 10% tariff. This has increased the pressure in the markets. US and Asian markets are down.
On February 27, foreign investors (FIIs) sold shares worth Rs 556.56 crore. In 2025, foreign investors have sold Indian shares worth more than Rs 1 lakh crore. Meanwhile, domestic institutional investors (DIIs), including mutual funds, have bought shares worth Rs 83,000 crore during this period.
Global market down by 3%
In Asian markets, Japan’s Nikkei is down 2.81%, Hong Kong’s Hang Seng is down 2.27%, Korea’s Kospi is down 3.08% and China’s Shanghai Composite Index is down 0.88%.
On February 27, foreign investors (FIIs) sold shares worth Rs 556.56 crore. During this period, domestic investors (DIIs) bought shares worth Rs 1,727.11 crore.
On February 27, America’s Dow Jones closed at 43,239 with a fall of 0.45%. While the S&P 500 index rose 1.59% to 5,861 and Nasdaq rose 2.78% to close at 18,544.
