Election results cause chaos in stock market, investors lost Rs 29.14 lakh crore – ..

New Delhi, June 4 (HS). The domestic stock market was in a state of chaos on Tuesday due to the Lok Sabha election results. The stock market closed with a decline of about 6 percent today. Today’s trading also started with a decline, but during the day’s trading, the pressure on the market kept increasing due to the trends of vote counting.
Later, when the trends started showing a clear possibility of the formation of a BJP-led NDA government at the Center, the stock market was also able to recover to some extent from the lower level. Due to today’s fall, the Sensex fell by more than 6,200 points in intra-day. Similarly, Nifty also fell by about 2,000 points in intra-day. After the whole day’s trading, the Sensex closed with a decline of 5.72 percent and Nifty with a decline of 5.93 percent. Due to the stampede in the market, investors lost more than Rs 29 lakh crore today. Such a sharp decline was seen in the stock market for the first time after the Corona period.
During today’s trading, BSE’s Industrial, Utility, Energy, Telecom, Oil & Gas, Capital Goods and Power indices fell by more than 10 percent. Similarly, there was a sell-off in PSU bank and metal sector stocks today. There was constant pressure in the broader market today, due to which the BSE Midcap index closed with a decline of 8.07 percent. Similarly, the Smallcap index ended today’s trading with a weakness of 6.79 percent.
Due to the weakness in the market today, the wealth of stock market investors has decreased by more than Rs 29 lakh crore. The market capitalization of companies listed on BSE decreased to Rs 396.77 lakh crore (provisional) after today’s trading. On the previous trading day i.e. Monday, their market capitalization was Rs 425.91 lakh crore. In this way, investors have suffered a loss of about Rs 29.14 lakh crore from today’s trading.
There was active trading in 3,934 shares on the BSE during today’s trading. Of these, 498 shares closed with a gain while 3,339 shares showed a decline, whereas 97 shares closed without any fluctuation. There was active trading in 2,317 shares on the NSE today. Of these, 110 shares closed in the green zone after making profits, while 2,207 shares closed in the red zone after incurring losses. Similarly, out of the 30 shares included in the Sensex, 2 shares closed with a gain and 28 shares closed with a decline. Out of the shares included in the Nifty, 8 shares closed in the green zone and 42 shares closed in the red zone.
The BSE Sensex today fell 183 points to open at 76,285.78 points. As soon as the trading started, due to selling pressure, the index fell 2,809.49 points to reach 73,659.29 points. But after this, seeing the improvement in the position of BJP in the counting of votes, buyers also started buying, due to which the index managed to recover about 2,700 points and reach 76,300 points. But after this, as the counting trends became clear, the decline in the market kept increasing.
Due to the continuous selling, the Sensex fell by 6,234.35 points or 8.15 percent to reach the level of 70,234.43 points shortly after 12 noon. By this time, the counting trends started making it clear that even if the BJP could not form the government on its own, this time also the BJP-led NDA government is going to be formed at the center. Due to this possibility, the buyers once again got excited and started buying. Due to the last round of buying, the Sensex recovered 1,844.62 points from the lower level and closed at the level of 72,079.05 points with a fall of 4,389.75 points.
Like the Sensex, NSE’s Nifty also started trading today with a fall of 84.40 points at 23,179.50 points. As soon as the market opened, the index fell by 874.05 points under selling pressure and reached the level of 22,389.85 points. After this, seeing the improvement in the position of BJP in the counting trends, buyers started buying, due to which the index was able to recover 413.15 points and reach 22,823 points.
After this, as the counting trends indicated that BJP would not get majority on its own, selling started all around once again, due to which the index slipped by 1,982.45 points or 8.82 percent to today’s lowest level of 21,281.45 points. However, after this, due to the possibility of BJP-led NDA government being formed at the Centre, buyers once again exerted pressure, due to which the index recovered by about 600 points from the lower level and closed at 21,884.50 points with a loss of 1,379.40 points.
After the day’s trading, among the stock market’s big stocks, Hindustan Unilever rose 5.96 percent, Nestle 3.09 percent, Britannia Industries 3.04 percent, Hero Motocorp 2.91 percent and Tata Consumer Products 1.67 percent to be included in the list of today’s top 5 gainers. On the other hand, Adani Ports fell 21.15 percent, Adani Enterprise 19.31 percent, ONGC 16.83 percent, NTPC 15.45 percent and State Bank of India fell 14.40 percent to be included in the list of today’s top 5 losers.