The Share Market continues its consecutive days of substantial decline, with the Bombay Stock Exchange’s BSE Sensex closing 1628 points lower on Wednesday. However, Thursday saw an even more significant plunge, with a rapid drop of over 600 points, bringing the Sensex below 71000 immediately after the market opened. National Stock Exchange’s Nifty also experienced a decline of more than 150 points upon opening.
As the market opened, both Sensex and Nifty faced a tumultuous start, with Sensex dropping 523.06 points (0.73%) to 70,977.70, and Nifty experiencing a 153.70 points (0.71%) decline, opening at 21,418.30. By 9:50 AM, Sensex had slipped further to 70,800, while Nifty reached 21,331.
Notably, HDFC Bank’s shares suffered a substantial downturn on Thursday, falling over 2% within the first 10 minutes of trading, trading at ₹1502.95 at 9:10 AM. Other major stocks, including L&T, Power Grid Corp, Asian Paints, and SBI Life Insurance, also traded in the red zone.
In terms of market cap, HDFC Bank experienced a significant drop, losing over one lakh crore in market valuation. The overall scenario led to a significant drop in Sensex by 1628 points and Nifty by 460 points.
Despite the overall decline, certain stocks, including Adani Ports, Apollo Hospitals, UltraTech Cement, Coal India, and Reliance Industries, exhibited positive momentum in their trading activities.
It’s worth noting that Wednesday marked the sharpest decline in the share market since the beginning of the new year, with BSE Sensex closing at 71,500, down 1628 points (2.23%). Out of BSE’s top 30, 23 stocks ended in the red, while only 7 closed in the green zone. Nifty also faced a substantial drop, closing at 21,571.95 after a 460.35 points (2.09%) decline.
