Stock Markets after ending flat on 12th August crashed big time on 13th August. Majorly, blue chip stock HDFC Bank drove this crash with 3.5% dip in value. MSCI’s announcement that bank weightage will be increased in two adjustments rather than in single one caused this drop. Even other big banking stock SBI also dipped big time.
Going into the details, investors have gone for huge profit booking in metal, banking and auto stocks. Also mixed global trends contributed to this steep decline. BSE Sensex for the first time in months ended under 79,000 mark. In totality, Big indices of Stock Markets, BSE lost 722.30 points to close at 78,926.62 and Nifty50 lost 208.00 points to close at 24,139.00 mark.
In this session of Stock Markets, BSE Sensex started trading below the previous closing at 79,552.51 and then continued to trade between 79,692.55 – 78,889.38. On the other hand, Nifty Sensex started trading below the previous closing too, at 24,342.35 mark and it hit its highest for the day at 24,359.95. While Nifty50 hit the lowest at 24,116.50.
Indian Rupee traded at Rs.83.96 against USD on 13th August 2024. Titan Company, HCL Technologies, Nestlé India, Wipro, Sun Pharmaceutical Industries ended as Top Gainers in Sensex. Titan Company, Apollo Hospitals Enterprise, Dr. Reddy’s Laboratories, Tata Consumer, HCL Technologies ended as Top Gainers in Nifty50.
On the other hand in top indices of Stock Markets; HDFC Bank, Bajaj Finance, Tata Motors, Tata Steel, State Bank of India stocks ended as Top Losers in Sensex. While Bharat Petroleum Corporation, HDFC Bank, Shriram Finance, HDFC Life Insurance Company, Bajaj Finance ended as Top Losers in Nifty50.
