Stock Markets crashed due to huge selling pressure on 17th January, 2024. Traders have invested heavily in IT stocks for consecutive sessions till yesterday. They have decided to sell off some of their holds for profits on 16th January. International Stock Markets have also closed with huge losses. Hence, BSE lost 1,628.02 points to close at 71,500.76 and Nifty lost 460.35 points to close at 21,571.95 mark.
BSE Sensex started trading lower than previous closing at 71,998.93 mark and then continued to trade between 72,484.80 to 71,429.30 range. Index kept on trading at lower levels and never did not recover. In one session, it lost more than 1600 points and this is major crash for the index in 16 months. BSE ended the trading session at 71,500.76 by losing 1,628.02 points.
Nifty Sensex started trading low at 21,647.25 mark and it hit highest for the day at 21,851.50. Nifty50 hit the lowest at 21,550.45. Index started off low but in the first hour traded up a little bit. Due to HDFC Bank quarter results, traders have decided to sell-off all their holds. Hence, Nifty50 ended by losing 460.35 points on 21,571.95.
Indian Rupee traded at Rs.83.14 against US Dollar on 17th January, 2024. Even during such a crash stocks like HCL, Infosys, Tech Mahindra, TCS, Nestle India, Powergrid Corporation have registered gains. West Asian Stock Markets have registered losses and HDFC Bank stock have driven the huge crash, too. Bank Nifty has crashed 8% in this one session.
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