Stock Markets crash and a bloodbath ensues during the session of 23rd January, 2024. Sony and ZEE merger deal has been called off and this had a huge negative impact on Markets. Traders after an enthusiastic start started pulling off their investments. Hence, BSE lost 1,053.10 points to close at 70,370.55 and Nifty lost 333.00 points to close at 21,238.80 mark.
BSE Sensex started trading high at 71,868.20 mark and then continued to trade between 72,039.20 to 70,234.55 range. Index kept trading enthusiastically and crossed 72,000 mark again. As the news of the merger deal cancellation came out, index plummeted by 1600 points one point. Traders invested in few big stocks at such lows. Hence, BSE ended the trading session at 70,370.55 by losing 1,053.10 points.
Nifty Sensex started trading high at 21,716.70 mark and it hit highest for the day at 21,750.25. Nifty50 hit the lowest at 21,192.60. Index again started above 21,700 mark and at the highest did hit 21,750 mark. Traders have started selling off their holds and ZEE stocks have plummeted. Hence, Nifty50 ended by losing 333.00 points on 21,238.80.
Indian Rupee traded at Rs.83.15 against US Dollar on 23rd January, 2024. Banking shares like Indusind Bank, SBI, HDFC Bank and Axis Bank shares have also led to this crash. Hinustan Unilever stock has also lost huge. Stock Markets with such huge losses and bloodbath have showcased how volatile they can be. Now, traders might look to invest in big stocks in coming days.