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New Delhi. Selling pressure continued in the stock market on Friday (25 October) and Sensex-Nifty closed on a decline for the fifth consecutive day. At the end of trading, the 30-share Bombay Stock Exchange Sensex closed at 79,402.29 with a decline of 662.87 points or 0.83 percent. At the same time, the National Stock Exchange Nifty closed at 24,180.80 with a decline of 218.60 points or 0.9 percent.
IndusInd Bank, M&M, Adani Enterprises, Shriram Finance, and NTPC were the top Nifty losers in Friday's trade, while ITC, Sun Pharma, Britannia Industries, HUL, and Axis Bank were the top Nifty gainers.
Investors lost Rs 9.8 lakh crore;
the market cap of companies listed on the Bombay Stock Exchange fell by Rs 9.8 lakh crore to Rs 435.1 lakh crore.
Reasons for the big fall in the market-
1. Continuous selling by foreign investors
Foreign institutional investors (FIIs) are continuously selling shares indiscriminately, which has spoiled the market mood the most. FIIs sold shares worth Rs 5,062 crore net on October 24. So far this month, they have sold shares every day and have sold a total of Rs 1 lakh crore so far. Never before have they sold so much in the Indian markets in a month.
2. Weak second quarter results:
Indian companies' earnings in the September quarter have been weak, raising concerns about higher valuations in the market.
3. US Elections
Uncertainty over the US elections is weighing on market sentiment. Ahead of the November 5 elections, the latest opinion poll trends show a close contest between Kamala Harris and Donald Trump.
4. Geopolitical Tensions
Changing situations in the Middle East are impacting market sentiments.
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