Stock Markets crashed huge on 13th March 2024. Investors have decided to sell off their holdings in BSE MidCap and BSE SmallCap indices as SEBI Chairperson Madhabhi Puri Buch stated stability of the mid cap and small cap companies is unaccounted with many coming up. Also big stocks like Reliance, NTPC, L&T have seen huge dip as major traders have decided to sell them off.
Due to this crash, Investors have lost a total of Rs.13.5 trillion in one session. BSE MidCap declined by 5.1% and SmallCap by 4.5%. This bear rally has resulted in more than 1% plunge in NSE index as well. During such a negative session, BSE lost 906.07 points to close at 72,761.89 and Nifty lost 338.00 points to close at 21,997.70 mark.
BSE Sensex started trading at 73,993.40 and then continued to trade between 74,052.75 – 72,515.71. Trading started off lower than previous closing and touched 74,000 mark again. But post 11:00 AM, it started tumbling so much that at one point it gone down by 1100 points. Towards the end, BSE recovered slightly and ended the trading session at 72,761.89 by losing 906.07 points.
Nifty Sensex started trading at 22,432.20 mark and it hit its highest for the day at 22,446.75. Nifty50 hit the lowest at 21,905.65. Index plunged down below 21,910 mark as the big stocks have seen huge selling pressure from investors. In a long time, Nifty50 ended by losing huge 338.00 points on 21,997.70.
Indian Rupee traded at Rs.82.84 against US Dollar on 13th March, 2024. ITC, ICICI Bank, Kotak Mahindra, Nestle India shares have registered gains even during this forgettable session. Powergrid Corporation, NTPC, Tata Steel, Tata Motors, JSW Steel have ended up as top losers. Experts advice caution to new investors with such a fall.
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