stock market crash
huge stock market crash in shares like (ril), tata motors, adani ports, ongc & else
Today, Monday 4 November, the stock market has seen a huge decline in which both S&P BSE Sensex and NSE Nifty 50 fell by 2% during their early trading today. Due to this decline, there is a lot of panic on Dalal Street because due to this decline many investors have lost a lot of their wealth.
By 1:24 pm today, the Sensex had fallen to 78413.43. Here the Sensex had fallen by about 1310.69 points. And if we look at the Nifty 50, it has also fallen by about 400 points. Due to this huge stock market crash, some major stocks of India have also seen a decline, those major stocks include shares like Reliance Industries Limited, Bajaj Auto, Hero MotoCorp, ONGC, Tata Motors and Adani Ports.
Decline in major stocks – situations in this stock market crash
- Reliance Industries Limited – is currently trading at Rs 1296 after a fall of 3.54%
- Hero MotoCorp – It has seen the biggest decline of 5.4% and is currently trading at Rs 4790
- Bajaj Auto – A decline of 4.66% has been seen and the stock is currently trading at Rs 9496
- ONGC – has fallen more than 4% and is currently trading at around Rs 262
- Tata Motors – A decline of about 2.58% has been seen and the stock is currently trading at around Rs 821
- Adani Ports – With a decline of 3.43%, the stock is currently trading at Rs 1348 in the market
With major companies cutting their earnings forecasts significantly, the impact of weak earnings is evident. All this is leading to negative sentiment among investors.
Dr V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said, “Given the current situation of this stock market crash, FPIs may continue to sell in this challenging earnings environment, thereby limiting any possibility of a recovery in the market.”
Domestic institutional investors have meanwhile stayed away from the market, leading to a continuous downtrend in the market, thus continuing the stock market crash.
The Nifty and Sensex have come down to around 23,500 and 77,000 respectively. Analysts believe that these figures could act as temporary lows if the selling pressure subsides.
If the current environment of stock market crash is to be believed, then investors need to focus on stocks with strong earnings as only those stocks can help them overcome this turbulent phase in the market.
