In a market turbulence of trading today, the Mumbai stock market witnessed a significant downturn as the equity benchmark BSE Sensex nosedived by 453.85 points, settling at 72,643.43. The market turmoil was attributed to robust selling pressure observed across frontline blue-chip counters.
Amidst the bearish sentiment gripping the market, several stocks faced steep declines, with some plunging more than 5 percent. On the Bombay Stock Exchange (BSE), notable losers included Davangere Sugar, registering a staggering 11.74 percent drop, followed by Leading Leasing Fin and KG Denim, both experiencing a sharp decline of 10.00 percent. Other major losers included Natura Hue Chem and Provestment Svcs, with decreases of 9.88 percent and 9.87 percent, respectively.
In the Nifty pack, the market landscape remained bleak, with only 14 stocks managing to close in the green, while a concerning 36 stocks ended the day in the red. The Nifty index itself concluded the session with a loss of 123.31 points, settling at 22,023.35.
The day’s trading activity also witnessed notable movements in terms of 52-week highs and lows. On the BSE, stocks such as Danube Industries L, Lords Chloro, Som Datt Fin, Abans Enterprises, and Forbes Company hit their fresh 52-week lows, underscoring the prevailing market pessimism. Conversely, R K Swamy, Gogia Capital, Solar Ind., Gopal Snacks, and Delta Industrial Res emerged as the day’s top gainers, reaching their fresh 52-week highs, despite the overall market downturn.
As investors grapple with heightened volatility and uncertainty, the market outlook remains cautious, with sentiments hinging on various economic factors and global developments.
The fluctuating market conditions serve as a stark reminder of the inherent risks associated with equity investments, urging investors to exercise prudence and diligence while navigating through turbulent market waters.
