New Delhi: The first trading day of the week proved to be very bad for the Indian stock market. The market witnessed a sharp decline due to heavy selling by foreign investors (FII). The market closed with a decline for the sixth consecutive day, causing a big blow to banking, energy, and consumer durables stocks. At the end of trading, the BSE Sensex closed 638 points down at 81,050, while the Nifty closed 198 points down at 24,817.

Sectors hit by selling

Banking and energy stocks were under the most pressure in today's session. Nifty Bank closed down 1.63%, down 837 points, while the energy index fell 2.52% to close at 1,050 points. Auto, FMCG, metals, media, healthcare, oil and gas, and consumer durables also saw a huge decline. The midcap index closed down 2% and the smallcap index closed down 2.75%. Only IT sector stocks saw a slight rise.

9 lakh crore rupees wasted

Today's all-round selling has caused huge losses to investors. The market cap of companies listed on BSE was Rs 452.20 lakh crore, which was Rs 460.89 lakh crore in the previous session. In this way, investors suffered a loss of Rs 8.69 lakh crore.

Which stocks rose and fell

– Out of 30 Sensex stocks, 7 closed with gains while 23 closed with losses. Out of 50 Nifty stocks, 10 closed with gains, and 40 closed with losses.

– Among the gainers, Mahindra & Mahindra gained 1.46%, ITC 1.40%, Bharti Airtel 1.31%, Infosys 0.80%, Bajaj Finance 0.74%, TCS 0.26% and Tech Mahindra 0.14%.

– Among the declining stocks, Adani Ports closed down by 4.08%, NTPC by 3.50%, SBI by 2.96%, Power Grid by 2.92% and IndusInd Bank by 2.43%.

The way forward?

There is currently selling pressure in the Indian stock market. Investors need to proceed with caution as volatility persists in the market.