Red Alert! Stock market crash, investors lost Rs 4 lakh crore, these were the major reasons behind the fall!

 

A huge fall was recorded in the Indian stock market on Friday. The decline comes ahead of a key US jobs report, which is expected to decide the size and pace of the Federal Reserve’s interest rate cut. Today selling is being seen in all sectors. The Sensex was trading 913 points or 1.12% lower at 81,283.16, while the Nifty was trading 277 points or 1.1% lower at 24,868.10.

Rs 4.4 crore lost!

After this fall in the market, the market capital of all the companies listed on the Bombay Stock Exchange decreased by Rs 4.46 lakh crore to Rs 461.22 lakh crore. Reliance Industries, SBI, ICICI Bank, L&T, Infosys, ITC, HCL Tech and HDFC Bank have contributed significantly to the huge fall.

Highest decline in these sectors

Talking about sectoral indices, Nifty PSU Bank and Oil & Gas fell by more than 2%, while Auto, Bank, Media, Metal and Consumer Durables sectors fell by more than 1%. Domestically focused small- Caps declined 0.9% and mid-caps fell 1.3%.

Bank shares fall ahead of loan and deposit growth data

Apart from this, concerns have increased among investors regarding the upcoming data of bank loan and deposit growth, due to which there has been a decline in finance sector heavyweight shares. Meanwhile, the latest data from the Reserve Bank of India (RBI) showed that deposits grew by 11.7% in the June 2024 quarter, while bank credit increased by 15%.