The domestic stock market declined for the third consecutive day on Friday due to a weak trend in global stock markets. The BSE Sensex shed 1,020.80 points at 58,098.92 and the NSE Nifty fell 302.45 points to end at 17,327.35.
On Friday, there was a big fall in BSE-NSE. At 2.45 pm, the Sensex fell 1010.55 points (1.71%) to 58,109.17. At the same time, Nifty is trading at 17,361.70, down 268.10 points or 1.52%.
There has been a loss of about Rs 5 lakh crore as the market cap of all the companies listed on BSE has come down to Rs 276.6 lakh crore. There has been a big fall in the stocks of banks and financial services companies. Heavyweight and D-Street favorite HDFC Bank is down nearly 2.7 per cent in Nifty Bank. Fearing global recession, foreign investors on Thursday sold shares worth more than Rs 2,500 crore from the Indian markets.
Earlier, around 1.20 pm, the Sensex broke more than 800 points and it is trading at 58,236.96 with a fall of 1.46%. Nifty has fallen 263.60 points (-1.5%) to 17,366.20. Earlier, the BSE’s major index Sensex fell 558.59 or 0.94% to open at 58,561.13. At the same time, NSE’s Nifty fell 147.55 points or 0.84% to open at 17,482.25.