Chaos in stock market due to sharp fall in auto-FMCG midcap shares, investors lost Rs 6 lakh crore

Stock Market Closing On 17 October 2024: In Thursday’s trading session, there was a sharp decline in the Indian stock market due to selling by investors. This tsunami has occurred due to the fall in other auto stocks including Bajaj Auto. Apart from this, strong selling was also seen in FMCG and banking shares. Midcap and smallcap stocks have also been hit by this decline. After the market closed, BSE Sensex fell by 500 points to 81006 and National Stock Exchange’s Nifty fell by 221 points to close at 24,750 points.

rising and falling shares

Out of 30 Sensex stocks, 9 stocks closed with gains and 21 closed with losses. Of the 50 Nifty stocks, 9 were up and 41 were down. Among the rising stocks, Infosys closed with a rise of 2.84 percent, Tech Mahindra by 2.81 percent, Power Grid by 1.21 percent, SBI by 0.73 percent, Reliance by 0.19 percent. Among the falling stocks, Bajaj Auto closed with a fall of 13.11 percent, Shriram Finance 4.11 percent, Mahindra & Mahindra 3.52 percent, Nestle 3.44 percent, Hero MotoCorp 3.39 percent.

sectorol update

Auto stocks have been hit the hardest in today’s business. Led by Bajaj Auto, Nifty Auto index closed with a decline of 928 points or 3.58 percent. Due to selling in FMCG index of Nifty by 1017 points and selling in consumer durables stocks, the index of this sector of Nifty closed with a fall of 945 points. Nifty Bank has closed with a fall of 512 points. Apart from this, shares of Pharma, Metals, Energy, Oil and Gas, Healthcare sectors also closed down. Nifty Midcap Index closed with a fall of 986 points and Small Cap Index closed with a fall of 239 points. Only IT shares have seen a rise.

Investors lost Rs 6 lakh crore

Due to the sharp fall in the Indian stock market, investors have suffered huge losses in Thursday’s session. The market cap of stocks listed on BSE closed at Rs 457.26 lakh crore, which had closed at Rs 463.29 lakh crore in the previous session. Investors have suffered a loss of Rs 6 lakh crore in today’s session.

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