Stock Markets crashed huge on 5th August. Due to recession fears in USA, investors started vigorously booking profits in major tech stocks. Bank of Japan has also recently increased 0.25% interest rates and stopped buying bonds. This resulted in decrease in Yen value. Adding to all these factors, war atmosphere between Iran and Israel also contributed to huge crash.
In the session, Markets lost Rs.15 Lakh crores in valuation reducing it from Rs.457 Lakh crores to Rs.442 Lakh crores. BSE Sensex lost more than 2600 points in this session and recovered slightly. On the other hand, Nifty50 has also dipped to 23,893 at one point. Finally, Big indices of Stock Markets, BSE lost 2,222.55 points to close at 78,759.40 and Nifty50 lost 662.10 points to close at 24,055.60 mark.
In this session of Stock Markets, BSE Sensex started trading sensationally below previous closing at 78,588.19 and then continued to trade between 79,780.61 – 78,295.86. On the other hand, Nifty Sensex started trading below previous closing at 24,302.85 mark and it hit its highest for the day at 24,350.05. While Nifty50 hit the lowest at 23,893.70.
Indian Rupee traded at Rs.84.07 against USD on 05th August 2024. Despite major number of stocks registering losses, these two stocks- Hindustan Unilever, Nestle India ended as Top Gainers in Sensex. Hindustan Unilever, Nestle India, HDFC Life Insurance Company, Tata Consumer ended as Top Gainers in Nifty50.
On the other hand in top indices of Stock Markets; Tata Motors, Tata Steel, State Bank Of India, Power Grid Corporation Of India, Maruti Suzuki India stocks ended as Top Losers in Sensex. While Tata Motors, Oil & Natural Gas Corporation, Adani Ports & Special Economic Zone, Tata Steel, Hindalco Industries ended as Top Losers in Nifty50.
