Today, September 30, the last trading day of the month, the Sensex closed at 84,299 level with a decline of 1,272 points. Nifty also fell 368 points and closed at 25,810 level.
Out of 30 Sensex stocks, 25 fell and 5 rose. Out of 50 Nifty stocks, 41 fell and 9 rose. The biggest decline was recorded in the automobile sector of NSE.
Earlier, Friday September 27, the stock market reached a record level for the 8th consecutive day. Sensex touched an all-time high of 85,978 and Nifty 26,277.
There were 3 main reasons for the market decline
There is negative sentiment in the global market due to fears of war between Iran and Israel. The effect of this has also been seen in the Indian stock market. The current valuations of the Indian stock market have increased. Especially in the mid and small cap segment. For this reason, a further correction could be observed in the market. Fear of a recession grew in America, leading to a decline in the US market on the last trading day. Its effect is visible in markets around the world.
Mixed trading in the Asian market today
In the Asian market, Japan’s Nikkei index fell 4.80% and Hong Kong’s Hang Seng index rose 2.43%. China’s Shanghai Composite Index closed with a gain of 8.06%. On September 27, the US Dow Jones Index closed at 42,313, up 0.33%. The Nasdaq fell 0.39% to 18,119. The S&P 500 also closed 0.13% lower at 5,738. According to NSE data, foreign investors (FIIs) sold stocks worth of Rs 1,209.10 crore on September 27. During this period, domestic investors (DIIs) purchased shares worth Rs 6,886.65 crore.
Dr. Aggarwal Health Care files DRHP to launch IPO Temasek Holdings and TPG-backed eye care service Dr Agarwal Health Care have filed a draft red herring prospectus (DRHP) with market regulator Securities Exchange Board of India to raise funds through a initial public offering (IPO). According to DRHP, the company will issue new shares worth Rs 300 crore.
At the same time, the promoters and existing investors of the company will sell 69,568,204 shares through Offer for Sale i.e. OFS. Along with this, India’s first registered real estate investment trust for small and medium enterprises, Property Share Investment Trust (PSIT), has also filed a DRHP with SEBI to launch a Rs 353 crore IPO.
The market fell after hitting an all-time high on Friday. Earlier, Friday September 27, the stock market reached a record level for the 8th consecutive day. Sensex touched an all-time high of 85,978 and Nifty 26,277. However, it later witnessed a decline and the Sensex closed at 85,571 with a fall of 264 points. Nifty also fell 37 points and closed at 26,178 level.
Out of 30 Sensex stocks, 15 rose and 15 fell. Out of 50 Nifty stocks, 29 rose and 20 fell. While one stock closed without any change. The maximum decline was 1.55% in the media sector of NSE. While oil and gas saw the highest increase of 2.37%.