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After a sharp fall in the US stock markets, the world’s largest economy, the Indian stock market also collapsed on Thursday. In fact, after the Fed’s rate cut decision in the US last night, the US markets have fallen further. Last night, the US Federal Reserve Bank has announced a 0.25 percent rate cut, which is the third consecutive cut. Due to this, the mood of the market has deteriorated and its effect was seen in the Indian stock market along with the global market.
On Thursday, both Sensex and Nifty have registered a huge decline. While the Sensex has fallen by more than 900 points, the Nifty also fell by 321 points. The US Fed has cut interest rates by 0.25 percent as expected, yet the domestic market also collapsed amid heavy selling around the world. The market crashed when the US Fed indicated only two rate cuts in the next year 2025. Due to this, the Sensex fell to around 79000 and the Nifty also fell below 23900 and the decline continues in both BSE and NSE. Except FMCG, all the indices have fallen by up to 2 percent while the Nifty index of FMCG is also almost flat.
How much has BSE’s market cap decreased
The market cap of companies listed on BSE fell by Rs 5.93 lakh crore, which means the wealth of investors has sunk by Rs 5.93 lakh crore. Currently, the Sensex is trading at 79,172 with a fall of 1001 points and the Nifty is trading at 23,907 with a slip of 291 points. In intra-day, the Sensex fell by 1162 points and the Nifty by 328 points.
Huge decline in investors’ wealth
One trading day ago, i.e. on Wednesday, the total market cap of all the shares listed on BSE was Rs 4,52,60,266.79 crore. As soon as the market opened on Thursday, it fell to Rs 4,46,66,491.27 crore. This means that the investors’ capital has decreased by Rs 5,93,775.52 crore.
