Hey there, folks! It’s been a rough day for investors in the stock market as major indices took a nosedive on the last day of February. The BSE Sensex and Nifty 50 opened in the red, dropping over 1% each, erasing a whopping ₹6.64 lakh crore of investor wealth.
The global market also felt the heat, with U.S. President Donald Trump’s decision to go ahead with tariff implementations on March 4 and April 2 causing some jitters.
The Auto and IT sectors were hit the hardest, each witnessing a decline of over 2%. As a result, all sectoral indices traded lower, adding to the overall gloom.
The total market capitalization of BSE-listed companies took a significant hit, dropping from ₹3,93,10,210.53 crore on February 27 to ₹3,86,46,106.34 crore on February 28. That’s a loss of ₹6,64,104.19 crore in just one day!
In terms of stock performance, only 544 stocks managed to show gains out of the 3,263 actively traded on the BSE. The rest either declined or remained unchanged, with 590 hitting their one-year low and only 17 reaching a one-year high. Ouch!
With 39 stocks hitting the upper circuit and 172 touching their lower circuit limits, it’s clear that the market is facing some tough times. The sustained selling pressure and weak global sentiment are keeping investors on edge, adding to the overall economic uncertainties.
So, buckle up, folks! It looks like we’re in for a bumpy ride in the stock market for the foreseeable future. Stay tuned for more updates as the situation unfolds.
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