Stock Market Closing, 7th June, 2023: The Indian stock market closed lower on the final business day of the week. The stock market saw a decline today due to investor selling. After today’s decline, investor wealth fell to Rs 299.68 lakh crore, which had touched a new high of Rs 300 lakh crore yesterday. However, the IPO of Idea Forge Limited, which was listed in the stock market today, made the investors nervous. On listing, the stock gave double returns to investors.
Indian stock market index Sensex closed down 505.19 points at 65280.45 points today. While Nifty fell by 165.5 points to close at 19331.80 points. Bank Nifty also closed down 414.9 points at 44925 points. Today 1511 stocks advanced, 1956 declined and 113 remained unchanged.
Sensex declines by 505.19 points to close at 65,280.45, Nifty falls by 165.50 points to settle at 19,331.80
— Press Trust of India (@PTI_News) July 7, 2023
Nifty losers were Adani Ports, Power Grid Corporation, Apollo Hospitals, IndusInd Bank, Britannia Industries, while gainers included Tata Motors, Titan Company, M&M, SBII and TCS. Auto and PSU sector shares were the biggest losers. FMCG, Power, Realty fell by one percent. BSE’s midcap index fell by 0.8 percent and smallcap index by 0.28 percent.
Sector update
FMCG and banking indices were the biggest losers in today’s trade. Due to the decline in the shares of both the sectors, the stock market crashed. Shares of IT, Pharma, Metals, Energy, Infra, Healthcare, Oil & Gas, Consumer Durables sectors closed lower. Only Auto, Media and PSU Bank shares rose. 5 out of 30 Sensex stocks closed in the green, while 25 closed lower, 7 out of 50 Nifty stocks rose and 43 declined.
Loss of two lakh crores to investors
Investors have lost 2 lakh crore rupees in today’s trade. The market cap of the listed shares on BSE was Rs 301.70 lakh crore on Thursday, which fell to Rs 299.68 lakh crore in today’s trade.
How did this morning start?
BSE’s 30-share Sensex closed down 226.23 points at 65,559.41 and NSE’s 50-share Nifty closed down 74.50 points at 19,422.80.
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