new Delhi. The European stock has again witnessed the third largest decline in the current financial year due to the tremendous fall in the global markets due to the lockdown caused by the corona virus in European countries. This is the fourth time the stock market has closed down by more than 1000 points in this financial year. Earlier this figure was seen on 18 May. The special thing is that in the current financial year, a decline of more than 2000 points has been seen only once. On the other hand, the major index of the National Stock Exchange has also closed down by about 300 points. Banking and IT sector has seen the biggest decline. There has been a big fall in the shares of big banks and finance companies of the country.
Big fall in stock market
Today the stock market has seen a big decline. The Bombay Stock Exchange’s major index Sensex lost 1066.33 points to close at 39728.41 points. While the Nifty 50, the major index of the National Stock Exchange, has closed with a loss of 290.70 points at 11680.35 points. The special thing is that after 10 consecutive days of decline in the stock market, the stock market has seen a decline. However, the BSE small-cap 219.24, the BSE mid-cap 261.06 and the foreign investor index CNX Midcap closed down by 301.90 points.
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Third major decline in current financial year
Today’s 1066-point decline is the third-biggest decline in the current financial year. Earlier, on May 18, the Sensex had lost 1069 points. Whereas before that on May 4, the Sensex had dived more than 2000 points. On 21 April 2020, the Sensex was down by 1011 points. According to experts, all the degradation that has been observed so far is due to the corona virus itself. In the coming days, the market may once again see a period of decline. Let us tell you that in the days of all, the stock market had reached close to 41 thousand points. While the Nifty 50 had crossed the 12 thousand mark figure.
Also read: Sensex and Nifty fall as global market declines due to Corona’s havoc in Europe
Big drop in banking and IT sector
Today the sectoral index is seeing a big decline. Bank Exchange 934.27 and Bank Nifty declined by 842 points. While the IT sector closed down by 643.04 points. BSE Healthcare and Tech sectors closed down by 339.91 and 297.35 points respectively. Capital Goods 296.16, BSE Auto 217.72, Oil & Gas 134.78, Consumer Durables 132.85, BSE FMCG 115.95, BSE PSU 73.81 and BSE Metal were down by 70.06 points.
Banking stocks fall
Today, banking sector sector stocks have seen a decline. The share of Bajaj Finance has seen the biggest fall of 4.58 per cent. While Tech Mahindra closed with a decline of 4.34 per cent. IndusInd Bank shares declined 4.25 per cent, ICICI Bank 4.09 per cent and State Bank of India 3.85 per cent. At the same time, shares of Asian Paints have seen a gain of 1 percent. Shares of Hero MotoCorp and JSW Steel have closed on the green mark but at flat levels.
Loss of Rs 3.28 lakh crore to common investors
Today, due to the big fall in the stock market, the common investors have also suffered big losses. Investors’ losses are linked to the market cap of BSE. If we talk about Wednesday’s closing market cap which was Rs 1,60,56,605.84 crore. While today the market closed at Rs 1,57,28,453.63 crore. It is clear that the market cap of BSE today saw a decline of Rs 328152.21 crore. Which is the loss of common investors.
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