The Indian stock market closed in the red on 21 October as Sensex and Nifty fell, with small-cap stocks showing weak performance.
Key Points
- Sensex Fall: The BSE Sensex dropped 143.21 points to close at 73,709.69.
- Nifty Decline: The NSE Nifty fell 77.60 points to end at 22,811.35.
- Market Volatility: The market experienced fluctuations, affecting mid-cap and small-cap stocks.
- Previous Session: On Monday, Sensex fell 876.37 points and Nifty dropped 257.20 points.
Stock Market Closes in the Red
NEW DELHI: The Indian stock market closed in the red on 21 October as the BSE Sensex fell by 143.21 points to close at 73,709.69. The NSE Nifty also declined by 77.60 points to end at 22,81 space. The market saw initial gains but failed to sustain momentum, leading to a decline in the latter part of the trading session. According to The Economic Times, there was significant selloff with a value of Rs 8 lakh crore as bulls lost steam. The decline affected mid-cap, small-cap and micro-cap shares, with most of these stocks showing weak performance.
Continued Decline in the Previous Session
On Monday, the Nifty 50 index fell by 257.20 points or 1.11 percent to close at 22,888.95. The BSE Sensex fell by 876.37 points or 1.17 percent to close at 73,852.90. This continued decline has put pressure on the market, with reports indicating that small-cap stocks dropped over 2 percent as per The Hawk. Additionally, rising crude oil prices above $110 have been cited as a factor contributing to the market’s downward trend, according to Free Press Journal.
Market Pressures and Reactions
The decline in the Sensex and Nifty has been attributed to several factors. According to NewsDrum, L&T Technology saw a significant rise of 8.75 percent, while Vodafone Idea fell by 4.89 percent. However, the overall market sentiment remained negative as banking stocks dragged down both indices, as noted by Rediff MoneyWiz. The rupee crossed 95 and crude oil prices topped $110, as reported by ABP Live English, adding to the pressure on the stock market.
