Sensex Fell : On the last trading day of the week, i.e. 4 October, amid fears of war between Iran and Israel, the Sensex closed at 81,688 with a fall of 808 points (0.98%). Nifty also fell by 200 points (0.93%), closing at 25,049.
Due to the sell-off in the stock market, the wealth of investors decreased by Rs 5 lakh crore. On Friday, 4 October, the overall market cap of companies listed on BSE was Rs 460 lakh crore. On 4 October, it was around Rs 465 lakh crore.
Out of 30 Sensex stocks, 21 fell and 9 rose. Out of 50 Nifty stocks, 37 fell and 13 rose. All except the IT sector of NSE fell. The media sector fell the most by 2.53%.
Sensex Fell – 3 reasons for the fall in the market
- There is a negative sentiment in the global market due to the possibility of war between Iran and Israel. Its effect has also been seen in the Indian stock market.
- The current valuations of the Indian stock market are high. Especially in the mid and small-cap segment. Due to this, a good correction can be seen in the market.
- The fear of recession in America has increased, due to which there was a fall in the US market on the last trading day. Its effect is visible in markets around the world.
Foreign investors sold shares worth ₹ 15,243.27 crores
- HDFC Bank, Reliance, ICICI Bank, and Mahindra & Mahindra brought the market down the most. Whereas, Infosys, TCS, and Axis Bank pulled the market up.
- In the Asian market, Japan’s Nikkei rose by 0.22%. At the same time, Hong Kong’s Hang Seng index rose by 2.82% and Korea’s Kospi index rose by 0.31%.
- On October 3, the US Dow Jones closed 0.44% lower at 42,011 and the Nasdaq closed 0.037% lower at 17,918. The S&P 500 also closed 0.17% lower at 5,699.
- According to NSE data, foreign investors (FIIs) sold shares worth ₹15,243.27 crore on October 3. During this period, domestic investors (DIIs) bought shares worth ₹12,913.96 crore.
Garuda Construction and Engineering IPO will open on October 8
Garuda Construction and Engineering Limited’s Initial Public Offer i.e. IPO will open on October 8. Investors will be able to bid for this issue till October 10. The company’s shares will be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on October 15.
