Who cast an evil eye on the stock market, 5.15 lakh crores sank as soon as it opened

Share Market Crash: The shine of the stock market has faded after Diwali. With the start of the trading week on November 4, a sharp decline was recorded in the Indian stock market. The market opened with a slight decline in the beginning, but within the first 15 minutes, there was a huge decline in the Sensex and Nifty. Due to this decline, investors lost about Rs 5.15 lakh crore.

Fall in Sensex and Nifty

On the very first day of the trading week, the Sensex saw a decline of more than 1000 points, while the Nifty also fell by 330 points. Almost all major stocks are trading in the red mark. This sudden decline has surprised investors, and now the question arises that why did the stock market fall so much after Diwali?

Major reasons for decline: US elections and Fed meeting

According to experts, the main reason behind this decline is the presidential election to be held in America and the important meeting of the US Federal Reserve. The results of the US presidential election are to be announced this week, which can affect not only the US but also the global markets. Along with this, an important decision on interest rates is expected from the meeting of the US Federal Reserve, which can affect the direction of the market.

Due to both these events, investors are cautious and are selling on a large scale. Weak trend is also being seen in IT stocks, which has further increased the decline.

BSE market cap decreased

Due to the ongoing decline in the stock market, the total market cap of BSE has also decreased. The combined market cap of all listed companies has come down by about Rs 6.8 lakh crore to Rs 441.3 lakh crore. The Sensex is trading at 78,683 with a decline of 1040 points, while the Nifty has fallen by 330 points to 23,976.

Decline in major companies

Major companies like Reliance Industries, Infosys, ICICI Bank, HDFC Bank, and Sun Pharma have played a big role in this decline. Due to the decline in these companies alone, the Sensex has fallen by 420 points. Apart from this, L&T, Axis Bank, TCS and Tata Motors have also pushed the index down.

Further impact on the market

Experts believe that this decline in the market may be temporary, but the future direction of the market will be decided based on the results of the US elections and the Fed meeting. After Diwali, investors were expecting a boom in the market, but at present the situation remains worrying.

Conclusion

This sudden decline has given a lesson to investors that how deep the impact of global events can be on the Indian stock market. Investors are being advised to maintain patience and invest wisely amid market uncertainty.