By Admin 
Share Market Updates: Last week was quite volatile for the stock market. As a result, investors suffered a loss of more than Rs 16 lakh crore. Last week, both the stock market index Nifty 50 and BSE Sensex recorded a decline.
These were under pressure from heavy selling by foreign investors and the rupee falling to a record low against the US dollar. On Friday, the rupee had reached 92 per dollar, but later improved slightly and closed at 91.90 against the American currency.
The stock market fell heavily on Friday
Even though the market opened on a positive note on this day, the selling pressure increased due to the sharp fall in the shares of many big companies including Adani Group. Traders told news agency PTI that the trend towards safe-haven assets and continued foreign fund outflows as well as the lack of strong local triggers affected investor confidence.
On Friday, the 30-share BSE Sensex fell 769.67 points or 0.94 percent to close at 81,537.70. Whereas during trading, the index fell by 835.55 points or 1.01 percent and reached intraday low of 81,471.82. On this day, shares of 2989 companies on BSE closed with a decline, while 1229 closed with a rise and 143 closed without any change.
stock market bleeding
Meanwhile, the 50-share NSE Nifty slipped 241.25 points or 0.95 per cent to close at 25,048.65. During trading it fell 264.6 points or 1.04 percent to a low of 25,025.30. BSE Sensex fell by 2,032.65 points or 2.43 percent in a week.
NSE Nifty also recorded a decline of 645.7 points or 2.51 percent. On Friday, the total market value of BSE listed companies declined by Rs 6,95,963.98 crore to Rs 4,51,56,045.07 crore ($4.93 trillion). In the entire week, the market valuation of BSE listed companies decreased by Rs 16,28,561.85 crore.
Big blow to Adani Group
Among the top 30 Sensex companies, Adani Ports, Eternal, Indigo, Axis Bank, Bajaj Finserv, Power Grid, Bharat Electronics Limited, State Bank of India, Maruti Suzuki India, Bajaj Finance, NTPC, Trent, Larsen & Toubro and Reliance Industries suffered the most losses.
Vinod Nair, head of research at Geojit Investments Ltd, told PTI that realty and PSU bank shares fell due to project completion delays and profit booking, while Adani Group shares came under pressure following reports of possible summons by the US regulator.
Let us tell you that the American Securities and Exchange Commission (SEC) has taken a big step against Adani Group. In a case related to bribery of $ 265 million, SEC has sought permission from the US court to allow them to send summons to Gautam Adani and his nephew Sagar Adani personally through email.
Adani Group lost billions of dollars
After this summons, selling in the shares of Adani Group started. In particular, a decline of 10.65 percent was seen in the shares of Adani Enterprises and its price slipped to 1,864.20. Overall, Adani Group companies suffered a loss of about $ 12.5 billion in this session.
Meanwhile, shares of Tech Mahindra, Hindustan Unilever, Infosys, Asian Paints, Tata Consultancy Services, Titan and UltraTech Cement gained.
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