Market U-Turn: Sensex Slips 750 Points From Day’s High, Investors Lose ₹1.5 Lakh Crore

Mumbai (The Uttam Hindu)- Indian stock market started Thursday's trading session in the green. At the end of the day, the Sensex rose 150.30 points or 0.19 percent to close at 80,718.01, and the Nifty gained 19.25 points or 0.08 percent to close at 24,734.30. The rally was led by auto stocks. Nifty Auto (0.85 percent), Nifty Finance Services (0.47 percent), Nifty FMCG (0.24 percent) and Nifty Consumption (0.50 percent) closed with gains.

At the same time, Nifty IT (0.94 percent), Nifty PSU Bank (1.11 percent), Nifty Metal (0.62 percent), Nifty Energy (0.99 percent) and Infra (0.53 percent) indexes closed under pressure. Midcap and smallcap declined compared to largecap. Nifty Midcap 100 index was down 386.35 points or 0.67 percent at 56,959.15 and Nifty Smallcap 100 index was down 126.50 points or 0.71 percent at 17,621.95. M&M, Bajaj Finance, Bajaj Finserv, Trent, ITC, HDFC Bank, Asian Paints, ICICI Bank, HUL, Sun Pharma and Eternal (Zomato) were the top gainers in the Sensex pack. Maruti Suzuki, BEL, HCL Tech, NTPC, Power Grid, Infosys, Kotak Mahindra Bank, Tata Motors, Tata Steel, Tech Mahindra and SBI were the top losers.

Investors lost Rs 1.43 lakh crore;

the total market capitalization of BSE-listed companies came down to Rs 451.33 lakh crore today, 4th September, from Rs 452.76 lakh crore on the previous trading day, i.e. Wednesday, 3rd September. Thus, the market cap of BSE-listed companies has come down by around Rs 1.43 lakh crore today. Or in other words, investors' wealth has declined by around Rs 1.43 lakh crore.

The reason for the rise in the market is believed to be the reduction in GST. Market expert Sunil Shah said that this is a welcome move of the government and their clear intention is visible in it. In the Union Budget, the personal income tax exemption limit has already been increased from Rs 7 lakh to Rs 12 lakh and now GST has also been reduced. This will make things cheaper for the common man. The government's focus is clear on how to accelerate economic growth through financial policy and RBI's steps. Our GDP is growing at the fastest pace among the big economies today and this is an important step to take it further. Shah further said that the government has paid attention to the decline in consumption that was seen in the last few quarters. Consumption is likely to increase in the coming time. The negative environment that was created due to tariffs in recent times will also reduce now. The Indian stock market started with a boom. At 9:25 am, the Sensex opened at 81,126, up 557 points or 0.69 per cent, and the Nifty opened at 24,865, up 150 points or 0.61 per cent.