Stock Market Investors: Heavy selling is being seen in the stock market today. Today, the Sensex weakened by about 793 points in intraday trading and came down to the level of 54882. On Monday, it closed at the level of 55675. Investors have also got a big setback in this fall of the stock market. Today, the market cap of companies listed on BSE decreased by about 3 lakh crores in intraday. After the recovery from the last few days in the market, there was a lot of selling today. There are many important reasons behind this decline. For example, rising crude prices, pressure on stock futures, selling in Asian markets and fear of interest rate hikes.
3 lakh crore shock to investors
Today, due to heavy selling in the stock market, about 3 lakh crores of investors were drowned. At the close of the market on Monday, the market cap of companies listed on BSE was Rs 25641305 crore. Whereas today it has come down to 25332370 crores in intraday. That is, there was a decrease of about 3.08 lakh crores. Today the level of low 54882 of the Sensex has been.
what the experts have to say
Vinod Nair, Head of Research, Geojit Financial Services, says that the crude prices have increased after Saudi Arabia raised its selling price adding to the current global inflationary pressure. On the other hand, better-than-expected job data in the US raised concerns on Wall Street, as it has given the US Fed more room to hike rates. He says that the current volatility is expected to continue in both global and domestic markets, as investors await monetary policy from major central banks including RBI.
Narendra Solanki, Head, Equity Research (Fundamentals), Anand Rathi says that the market is now waiting for the monetary policy. RBI’s decision on increasing the interest rate is going to come on June 8, due to which investors are cautious. On Monday also its effect was visible on the market. However, later the market was able to reduce its decline.
These heavyweight stocks fell by 1.5-4%
TITAN, DRREDDY, HINDUNILVR, LT and BAJFINANCE fell between 3 per cent and 4.5 per cent. Whereas ASIANPAINT, TCS, BAJAJFINSV, ICICIBANK, NESTLEIND and HCLTECH are down 1.5 per cent to 2.5 per cent.