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Selling was also seen in the stock market in the last session of the week. Recovery was also seen in the market during the initial trading, but it could not last long. Nifty closed at a 3-week low. Nifty slipped below 25,000 in intraday but managed to close above 25,000 on closing basis. Selling was seen in all sectors except IT on Friday.
After the fall on Friday, the total market capitalization of all the companies listed on BSE has seen a decline of ₹ 5 lakh crore. On Thursday, it had fallen by ₹ 10 lakh crore. In this way, investors have suffered a total loss of ₹ 15 lakh crore in the last 2 sessions.
Due to geopolitical tensions and the growing trend in the Chinese markets, pressure was seen in the Indian market on Friday. Nifty and Sensex closed down by about 1%. RIL and HDFC Bank put the most pressure on Nifty. 38 out of 50 stocks of Nifty closed in the red mark. M&M, Nestle India, Hero MotoCorp, Bajaj Finance topped the list of the weakest stocks of the index. At what level did the market close today After the day's work on Friday, the Sensex closed at 81,688, down 809 points. Nifty closed at 25,050, down 200 points. Nifty Bank closed 289 points lower at 51,556. Nifty Midcap Index closed 529 points lower at 58,496. Which stocks showed action today? Shares of upstream oil companies like ONGC and OIL saw a rise. Whereas, downstream oil marketing companies saw a decline due to expensive crude oil. Amidst weakness in the market, there was buying in diagnostic stocks. Dr Lal Path Labs saw the best buying. M&M Finance and Avenue Supermart remained weak after quarterly business update. At the same time, Bank of Baroda closed with a gain. Bajaj Finance closed 3% lower after the weakest AUM growth in 6 quarters. Except P&G, all other FMCG stocks closed in the red. They showed weakness of 1-3%. ICICI Bank has lost momentum since September 11. How was the market this week? This has been the worst week for the market since June 2022. With this, the market has broken its 3-week continuous growth. Nifty has slipped by about 5%. This week, the total market capitalization of all the companies listed on BSE has declined by ₹18 lakh crore. Apart from metals, all other sectors have been weak this week. Nifty Realty has slipped the most by 8%. This week, 46 out of 50 Nifty stocks have seen a decline in just 4 trading sessions. The markets were closed on 2 October (Wednesday) on the occasion of Gandhi Jayanti. On a weekly basis, the biggest decline has been seen in RIL, Shriram Finance and Hero MotoCorp. Whereas, from the midcap, Edelweiss Financial, Godrej Properties and M&M Finance have seen the biggest decline.
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