The I.N.D.I.A bloc has described the stock market crash after Lok Sabha election results as "biggest stock market scam" with retail investors losing Rs 30 lakh crore. The stock market had soared after the Exit polls predicted landslide victory for BJP-led NDA but the result turned out differently.
Analysts attribute the rally to robust corporate earnings, favourable global market trends, and investor optimism about the domestic economic outlook.
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The Indian stock markets opened at fresh record highs on Thursday following the US Federal Reserve's decision to keep interest rates unchanged. The Fed also indicated only one rate cut by the end of the year despite high inflation.
Indian stock markets opened on a positive note on Wednesday, with the benchmark BSE Sensex and Nifty showing significant gains in early trading.
In early trading on Tuesday, benchmark equity indices saw a decline due to profit-taking after a record-breaking rally. Bluechip stocks such as Reliance Industries and HDFC Bank faced selling pressure.
The Nifty 50 index soared to an unprecedented high, driven by robust gains across various sectors. Leading the charge were stocks in the IT, financial, and consumer goods sectors, which showed significant upward momentum.
On June 4, the stock market witnessed a steep selloff, resulting in a massive loss of approximately Rs 20 lakh crore within the first 20 minutes of trading.
The NSE Nifty index climbed 99.4 points to 22,920.80, continuing its upward trajectory and indicating a robust trading session.
On June 4, the stock market witnessed a steep selloff, resulting in a massive loss of approximately Rs 20 lakh crore within the first 20 minutes of trading.
Stock market: Leading companies saw gains, with NTPC, SBI, ONGC, Coal India, and Power Grid among the top performers, while Britannia, Hindustan Unilever, Cipla, Hindalco, and Nestle India experienced losses.
Benchmark indices Sensex and Nifty showed a strong rebound in early trade on Wednesday following significant losses in the previous session. The BSE Sensex surged 948.83 points to 73,027.88, and the NSE Nifty climbed 247.1 points to 22,131.60, driven by value-buying at lower levels.
The stock market witnessed a steep selloff, resulting in a massive loss of approximately Rs 20 lakh crore within the first 20 minutes of trading. By 9:35 am, the market capitalisation of BSE-listed companies had dropped to nearly Rs 406 lakh crore from the previous session's Rs 426 lakh crore.
Benchmark indices Sensex and Nifty plummeted in early trade on Tuesday as initial Lok Sabha poll counting showed a mixed trend. The BSE Sensex dropped 1,715.78 points to 74,753, and the NSE Nifty tumbled 539.1 points to 22,724.80.
From the Sensex basket, Larsen & Toubro, Mahindra & Mahindra, Bajaj Finance, UltraTech Cement, NTPC, IndusInd Bank, Tata Motors and Titan were the major gainers.
The sharp declines in both indices signal investor concerns and potential volatility in the coming days. The downturn affected a broad range of sectors, contributing to the overall market slump.
The broader NSE Nifty50 index also saw a sharp rise during early trading, reaching new highs. However, it failed to sustain these levels and closed below the critical 23,000 mark, indicating a pullback from investor enthusiasm.
The Sensex and Nifty achieved record highs during intraday trade on Friday before ending flat due to market volatility. The S&P BSE Sensex peaked at 75,636.5 but closed at 75,410, down 8 points. The NSE Nifty50 surpassed the 23,000-mark, closing 11 points lower at 22,957.
In the previous trading session on Tuesday, the BSE benchmark had declined by 52 points to settle at 73,953, whereas the Nifty50 had closed higher by 27 points at 22,529.
Nifty, which tracks the performance of the top 50 companies listed on the National Stock Exchange (NSE), recorded a slight dip of 17.30 points. It settled at 22,200.55 by the end of the trading session, signalling a subdued market trend.
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