look news india
Stock Market: On Wednesday, the third trading day of the week, the stock market once again crashed. After opening with some gains this morning, it suddenly started falling. Today Sensex fell 1000 points and Nifty fell 350 points. At 2:30 pm, Sensex was trading 1046 points or 1.42 per cent down at 72621, while Nifty was trading at 21,947, down 1.74 per cent or 388 points.
Nifty Midcap index fell by 1730 points or 3.61 percent. Also, Nifty's small cap index was trading down by 676 points i.e. 4.50 percent. The sharp fall changed market sentiment and led to heavy selling in leading stocks.
Why did the market fall?
Recently, SEBI chief had expressed concern about midcap and smallcap shares. He said that SEBI is keeping a close watch on this. There are signs of manipulation in midcap and smallcap stocks. Not only this, there are signs of fraud in SMI IPO also. SEBI chief has asked investors to be cautious. After this statement of SEBI, the market sentiment changed, due to which heavy selling was seen in the market today. Along with smallcap and midcap indices, there has been a huge decline in other indices too.
Estimated Rs 13 Lakh Crore Swaha
Due to the huge fall in the stock market on Wednesday, the market cap of BSE listed companies decreased by Rs 12.67 lakh crore to Rs 372 lakh crore. That means, within a few hours, investors suffered an estimated loss of Rs 13 lakh crore.
