Earthquake in Stock Market due to Independence of Kashmir! Sensex-Nifty slips below 5-month level

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Earthquake in Stock Market due to Independence of Kashmir

After the article 370 was removed by the central government in Jammu and Kashmir, the domestic share market today witnessed heavy sell-out on the first trading day of the week. The two major indices have slipped to the lowest level in the last five months due to the continued selling of the market. The worst decline has been seen in RIL and HDFC Bank shares.

After the day’s trading on Monday, the main index of the Bombay Stock Exchange ie Sensex dropped 418 points to 36,399. On the National Stock Exchange, Nifty 50 also dropped 135 points and closed at 10,862 level.

Midcap and Smallcap index fall drastically

Midcap and smallcap index closed on the red mark on the first day of the week. Earlier on Friday, both were seen beating in Idex. After today’s trading session, the BSE Smallcap index fell 211 points to close at 12,284. At the same time, the Midcap index of BSE also closed at a level of 13,376 with a gain of 170 points. Talking about the CNX Midcap index, it also lost 220 points today, after which it closed at 15,489 today.

Bank nifty drops

If we look at the sectoral index, today, except IT and tech sectors, all the other sectors closed on the red mark. Sectors closing on the red mark today included stocks of auto, capital goods, FMCG, pharma, metal, PSUs and oil, and gas. Today, the worst decline was in consumer durables. At the same time, if you look at the Bank Nifty, there was a huge drop of 556 points today, after which it closed at the level of 27,648.

What is the status of giant stocks

Talking about Digg shares today after the day’s trading, today the shares of Bharti Airtel, TCS, Tech Mahindra, Coal India, Housing Development Finance Corporation and Bajaj Auto gained momentum. Today, there is an increase of 1.31 percent to 3.96 percent. At the same time, when talking about the declining giants, today it included shares of Yes Bank, UPL, Tata Motors, Power Grid Corporation of India and GAIL India.

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