Indian Stock Market Witnesses Sharp Decline: Sensex Drops 800 Points, Midcap Index Plunges 1000 Points

Introduction: The Indian stock market experienced a significant  downturn in Wednesday’s trading session, marked by a substantial decline in both the Sensex and Nifty indices. The sell-off primarily affected banking and energy stocks, triggering a cascade of losses across various sectors.https://livesamacharnews.com/mumbai-faces-10-…id-drastic-short/ ‎

Indian Stock Market Witnesses Sharp Decline: Sensex Drops 800 Points, Midcap Index Plunges 1000 Points

Key Highlights:

• Sensex and Nifty Performance:
  • The BSE Sensex plummeted by 790 points to close at 72,304, marking a decline of 1.08%.
  • The NSE Nifty also recorded a notable drop of 247 points, ending the day’s trading at 21,951, reflecting a decrease of 1.11%.
• Sectoral Impact:
  • Energy stocks bore the brunt of the decline, with the Nifty Energy index witnessing a significant fall of 2.30%.
  • Banking stocks followed suit, experiencing a decline of 1.34%.
  • Other sectors, including Auto, IT, Pharma, FMCG, Metals, Consumer Durables, Healthcare, and Oil & Gas, also registered losses.
• Midcap and Smallcap Stocks:
  • The midcap index recorded a sharp decline of over 1,000 points, signaling substantial distress among mid-sized companies.
  • Similarly, the smallcap index witnessed a significant drop, further exacerbating the market’s downturn.

Index Performance:

• BSE Sensex:
  • Closing Level: 72,304.88
  • High Level: 73,223.11
  • Low Level: 72,222.29
  • Percent Change: -1.08%
• BSE SmallCap:
  • Closing Level: 44,998.14
  • High Level: 46,066.48
  • Low Level: 44,877.67
  • Percent Change: -1.94%
• NIFTY Midcap 100:
  • Closing Level: 48,089.10
  • High Level: 49,184.60
  • Low Level: 47,972.10
  • Percent Change: -1.94%
• NIFTY Smallcap 100:
  • Closing Level: 15,875.15
  • High Level: 16,260.00
  • Low Level: 15,795.80
  • Percent Change: -1.87%
• Nifty Smallcap 50:
  • Closing Level: 7,315.75
  • High Level: 7,501.35
  • Low Level: 7,283.70
  • Percent Change: -2.05%
• Market Valuation:
  • The total market value of listed companies on the BSE witnessed a significant decline, dropping to Rs 385.75 lakh crore from Rs 391.97 lakh crore in the previous session.
  • The market incurred a loss of Rs 6.22 lakh crore during the day’s trading, reflecting the severity of the downturn.

Stock Performance:

• Bullish Stocks:
  • HUL, Infosys, and TCS registered marginal declines of 0.68%, 0.46%, and 0.35%, respectively.
• Bearish Stocks:
  • ower Grid, Apollo Hospitals, iShar Motors, and Bajaj Auto experienced substantial losses, with declines ranging from 3.31% to 4.43%

    Sure, here’s the provided data organized into a table:

    Index Name	Closing Level	High Level	Low Level	Percent Change
    BSE Sensex	72,304.88	73,223.11	72,222.29	-1.08%
    BSE SmallCap	44,998.14	46,066.48	44,877.67	-1.94%
    India VIX	16.33	16.74	15.31	3.83%
    NIFTY Midcap 100	48,089.10	49,184.60	47,972.10	-1.94%
    NIFTY Smallcap 100	15,875.15	16,260.00	15,795.80	-1.87%
    Nifty Smallcap 50	7,315.75	7,501.35	7,283.70	-2.05%
    Nifty 100	22,457.65	22,764.55	22,421.45	-1.16%
    Nifty 200	12,119.45	12,301.70	12,099.10	-1.29%
    Nifty 50	21,951.15	22,229.15	21,915.85	-1.11%

    Note: “More than Rs 6 lakh crore wasted” refers to the market value lost during the day’s trading session.    

Conclusion: The sharp decline in the Indian stock market on February 28, 2024, underscores the prevailing volatility and uncertainty. The sell-off, driven by weaknesses across multiple sectors, particularly impacted midcap and smallcap stocks, highlighting the need for investors to exercise caution amid turbulent market conditions.