Sensex Ends 80 Points Lower; Banking And Telecom Stocks Witness Selling

India share markets continued to trade in the red during closing hours and ended their day marginally lower.

At the closing bell, the BSE Sensex stood lower by 80 points (down 0.2%) and the NSE Nifty stood down by 19 points (down 0.2%).

The BSE Mid Cap index ended the day up 0.7%, while the BSE Small Cap index ended up by 1%.

Stocks in the banking sectorenergy sector and telecom sector witnessed selling pressure, while realty stocks were trading in the green.

The rupee was trading at 70.86 against the US$.

Asian stock markets finished on a negative note. As of the most recent closing prices, the Hang Seng was down by 0.39% and the Shanghai Composite was down by 0.54%. The Nikkei 225 was down 0.45%.

European markets were trading on a mixed note. The FTSE 100 was up by 0.20%. The DAX was trading down by 0.06%, while the CAC 40 stood down by 0.04%.

Speaking of Indian share markets, Indian indices have witnessed a starkly polarised situation since 2018, after the uninterrupted bull rally of 2017 entered a period of correction.

While the Sensex recovered from the correction and went on to hitting new life-time highs, the broader markets - predominantly the small and midcap stocks -haven't recovered much.

Ankit Shah, the editor of daily premium newsletter Equitymaster Insider (requires subscription), has been talking about this trend since a long time. But now, he has even more elaborate data to show you how deep this trend has been.

He pulled out data on 1,638 companies listed on the NSE.

And he shares his observations in a recent edition of The 5 Minute WrapUp...

  • Between 29 December 2017 and 30 December 2019, just 246 companies have witnessed gains. Together, these 246 companies added Rs 29.8 trillion worth of market capitalisation.

    In other words, 1,392 companies are below the levels they traded at the end of December 2017. Together, these 1,392 companies lost Rs 28.6 trillion worth of market capitalisation.

    So, you see the money has literally shifted from one place to another.
1 2 3
View single page >> |

And to know what's moving the Indian stock markets today, check out the most recent 


How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.


Leave a comment to automatically be entered into our contest to win a free Echo Show.