Tuesday, February 27, 2024

The country’s largest private bank became the villain of the market, Rs 3.75 lakh crore wiped out in one stroke

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The country’s largest private stock became the biggest villain of the market. Yes, here we are talking about HDFC Bank. Due to which its quarterly results did not meet expectations, it fell by about 7 percent on Wednesday. On the other hand, due to the dollar index reaching a one-month high, the stock market witnessed a huge fall of about 1400 points. Due to the decline in HDFC Bank, there was a big decline in the shares of other banks also. The special thing is that in the shock of 15.71 crore investors of the market, more than Rs 3.75 lakh crore have been wiped out. Let us also tell you at what level the stock market is trading at present.

Big fall in Sensex and Nifty

Due to the fall in HDFC Bank shares and the dollar index reaching a one-month high, the main index of Bombay Stock fell by 1,371.23 points to 71,757.54 points. At present i.e. at 11:28 am, the Sensex is trading at 72,065.02 points with a fall of 1062.89 points. On the other hand, the main index of National Stock Exchange Nifty fell by 395.35 points and reached 21,636.95 points. However, at present Nifty is trading at 21,735.10 points with a fall of 297.20 points.

There was a decline in these shares

The biggest decline is being seen in HDFC Bank on NSE. During the trading session, shares of the country’s largest private bank fell by 7 percent to Rs 1,560. However, a day earlier the company’s shares had closed at Rs 1,679.15. At present, the bank’s shares are trading at Rs 1,566.05 with a decline of 6.74 percent. On the other hand, Kotak Bank’s shares are falling by 2.60 percent and ICICI Bank’s shares are falling by 2.31 percent. Whereas Tata Steel shares are down by more than 2 percent and Grasim shares are down by 1.86 percent.

If we talk about rising stocks, then HCL shares are up by 1.64 percent on the National Stock Exchange. Whereas the shares of Wipro, Tata Consumer, L&T and Infosys are seeing an increase of less than one percent.

Rs 3.75 lakh crore cleared

Investors have also suffered huge losses due to the fall in the stock market. The profit and loss of investors is linked to the market cap of BSE. A day ago the market cap of BSE was Rs 3,74,95,260.82 crore, which today came down to Rs 3,71,20,048.03 crore after the market crash. This means that in a few minutes of trading the market cap of BSE reduced by Rs 3,75,212.79 crore. This means that investors have suffered so much loss.

 

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