The stock market continued to decline for the second consecutive day today. After a big fall in the market on Friday, the market saw a decline on Monday, the first trading day of the week. The BSE Sensex fell 299.48 points to close at 66,384.78. Similarly, the NSE Nifty fell 72.65 points to close at 19,672.35.
Investors suffered heavy losses as the market continued to fall for the second consecutive day. Let us tell you that on July 20, the market cap of BSE-listed companies was 3.04 lakh crore, which came down to 3.01 lakh crore on July 24. In this way, investors lost about 3 lakh crores in just two days. If we look at the stocks included in the Sensex, then the biggest decline was in ITC shares. At the same time, indusind bank shares were the biggest gainers.
According to market experts, capital outflows from foreign institutional investors and a rise in crude oil prices also weighed on the stock market. Apart from this, investors are also waiting for the US central bank Federal Reserve’s monetary policy review to be announced this week. Its effect was also seen on the market, due to which the market fell for the second day.
18 out of 30 Sensex stocks gain
18 out of 30 Sensex stocks ended with gains, while 25 of the 50 Nifty stocks ended with gains. Top gainers in the Sensex pack included IndusInd Bank, M&M, Power Grid and Bajaj Finserv, rising up to 2.01 per cent. On the other hand, ITC, Kotak Mahindra Bank, Tech Mahindra and Reliance Industries were among the losers. Other Asian markets were mixed. Japan’s Nikkei ended with gains, while Hong Kong’s Hang Seng and China’s Shanghai Composite ended with losses. European markets were mixed in early trade. U.S. markets were trading higher on Friday. The global oil benchmark Brent crude was trading 0.73 per cent higher at USD 81.66 per barrel.
Foreign investors sell
Foreign institutional investors were net sellers in the capital market as they sold shares worth Rs 1,988.77 crore on Friday, according to exchange data. Earlier on Friday, the market had put an end to the six-day rally and both the benchmark indices were down more than one percent. The 30-share index ended 887.64 points or 1.31 per cent lower at 66,684.26. Similarly, the broader NSE Nifty fell 234.15 points, or 1.17 per cent, to close at 19,745.
