Mumbai. There was a huge decline in the Indian Stock Market on Tuesday. Sensex and Nifty closed in the red at the end of trading. Heavy selling was seen in PSU banks, metal and realty sectors. Due to the huge fall in the stock market, the market cap of all the companies listed on the Bombay Stock Exchange (BSE) has reduced by about Rs 9 lakh crore to Rs 445 lakh crore. The Sensex closed at 81,151.27 after a massive fall of 930.55 points or 1.15 per cent. At the same time, Nifty closed at 24,472.10 after falling 309.00 points or 1.25 percent. The Nifty Midcap 100 index ended in the red at 56,174.05 after slipping 1503.65 points or 2.61 per cent. The Nifty Smallcap 100 index closed at 18,061.00, falling 736.40 points or 3.92 per cent. Nifty Bank closed at 51,257.15, falling 705.55 points or 1.36 per cent. Selling was seen in Nifty’s Auto, IT, PSU Bank, Fin Services, Pharma, FMCG, Metal, Realty, Media, Energy, Private Bank, Infra, Commodity sectors.
The market trend remained negative. On the Bombay Stock Exchange (BSE), 576 shares were trading in the green, 3,407 shares were trading in the red. At the same time, 75 shares closed without any change. In the Sensex pack, except ICICI Bank and Bharti Airtel, all the big stocks closed trading in the red. BHEL, Coal India, M&M, Tata Motors, Tata Steel, SBI and Hindalco were the top losers in the Nifty pack. Whereas, Infosys, ICICI Bank and Bharti Airtel were the top gainers. According to market experts, “Today, a bearish environment dominated the domestic market amidst fluctuations, in which small and medium-sized stocks suffered the most. The recent sharp rise in US bond yields indicates less expectations of an aggressive rate cut by the US Fed, which has also impacted fund flows into EMs. This bearish outlook may remain due to sluggish earnings growth trends in the near term.