On Wednesday, October 23, both the Sensex and Nifty indices experienced a decline. A sharp sell-off in the last hour of trading erased earlier gains. However, the broader market showed resilience, with the BSE’s Midcap and Smallcap indices closing up by 0.48% and 0.93%, respectively. Despite this positive performance in the broader market, investors faced a minor loss totaling approximately ₹8,000 crore for the day. Among sectoral indices, the IT sector gained over 2%, while Capital Goods, Power, and Pharma sectors saw declines of over 1%.
Market Closing Figures
At the end of trading, the BSE Sensex was down 138.74 points, or 0.17%, finishing at 80,081.98. The NSE’s 50-share Nifty index also fell by 36.60 points, or 0.15%, closing at 24,435.50.
Investors Face ₹8,000 Crore Loss
The total market capitalization of companies listed on the BSE dropped to ₹445.37 lakh crore on October 23, down from ₹444.45 lakh crore on Tuesday, October 22. This signifies a decrease of approximately ₹8.86 lakh crore in the total market cap of BSE-listed companies, reflecting a loss of wealth for investors.
Top 5 Gainers in Sensex
Out of the 30 stocks in the BSE Sensex, only 8 closed in the positive. Bajaj Finance led the gains with a notable increase of 4.95%. Other gainers included Tech Mahindra, HCL Tech, Tata Consultancy Services (TCS), and HDFC Bank, with gains ranging from 1.26% to 2.28%.
Top 5 Losers in Sensex
Conversely, 22 Sensex stocks ended the day in decline. Mahindra & Mahindra (M&M) was the biggest loser, experiencing a drop of 3.23%. Other significant decliners included Sun Pharma, Power Grid, NTPC, and Adani Ports, with losses ranging from 1.68% to 2.79%.
Overall Market Performance
On the Bombay Stock Exchange (BSE), a greater number of stocks closed lower. Out of 4,031 stocks traded, 2,182 ended higher, while 1,751 fell. Additionally, 103 stocks remained flat with no significant movement. Notably, 122 stocks reached their 52-week highs during today’s session, while 163 stocks hit new 52-week lows.
The Indian stock market serves as a vital platform for buying and selling shares of publicly listed companies. It plays a crucial role in India’s economy by enabling businesses to raise capital for growth and expansion while providing investors with opportunities to earn returns through trading.
Key Stock Exchanges in India
- Bombay Stock Exchange (BSE):
- Established in 1875, the BSE is the oldest stock exchange in Asia.
- It lists thousands of companies and features key indices like the SENSEX, which tracks 30 of the largest and most actively traded stocks on the exchange.
- National Stock Exchange (NSE):
- Founded in 1992, the NSE is the largest stock exchange in India by trading volume.
- It includes major indices such as the NIFTY 50, which represents the top 50 companies listed on the NSE.
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