Sensex gap of 900 points: 64,000 level lost

- Foreign Investors Rs. 7700 crore sale

- Out of investor's assets Rs. Massive erosion of 3.18 lakh crores: Nifty plunged 265 points to 18,857

- Sensex tumbles 3280 points in last six days Small-Midcap index gaps up to 7 percent

- Rs.3 lakh crores lost in Sensex by 600 points in the first 15 minutes

AHMEDABAD: On the back of other adverse reports including rising tensions in the Middle East, the bearish sentiment remained behind the sell-off in the stock market for the second day in a row today. A gap of 900 points was recorded in BSE Sensex and 265 points in NSE Nifty today due to selling pressure. Today, more than Rs. 3.18 lakh crore was eroded.

Report of Israel's Hamas War Gains Heightened U.S. Reports on bond yields, mixed corporate results for the September quarter, sell-off by foreign investors and rising crude prices have weighed on the market.

In the global markets, Asian markets fell to 11-month lows and the retreat of European markets also had an impact on the market. US stock markets were soft yesterday.

On the back of these reports, the Sensex lost 64,000 to 63,148.15 with a fall of 900.91 points due to the selling pressure from Chomer. While Nifty fell by 264.90 points to the level of 18857.25.

Following the crash in the Sensex today, investors' assets (BSE market cap) fell by Rs. 3.18 lakh crore was eroded to Rs 306.04 lakh crore at the end of business. Foreign investors today invested Rs. 7702 crores were sold. Here it should be mentioned that in the last six days the Sensex has fallen by 3280 points, while the market cap, i.e. the assets of the investors, is Rs. 18 lakh crore has been eroded. During this time, a gap of up to seven percent has been recorded in the small and midcap indices.

2023 big bangs

Date	gap (point)
22 February	928
26 October	900
March 13	898
21 July	887
27 January	874

Rs 25,000 crore sale of FPIs in October

Exchange data indicated that FPIs sold Rs 25,098 crore in October (till October 26), taking advantage of premiums and higher valuations in the Indian stock market. Today, FPI sold a whopping Rs.7,700 crore. On the other hand, domestic funds bought Rs 6,558 crore, mainly in mid and small cap stocks.

The worst softening in seven months

The data suggests that the current weakness in stocks is the sharpest in the last eight months.

Earlier in March 2023, there was a decrease of 2251 points in just five days.

This decline has been left behind by the current slowdown, and the number has reached 3,280 points in just six days. Global liquidity is more likely to be responsible for the current rally's softness than domestic economic factors.

Meanwhile, European stock markets were trading lower despite hopes that interest rates will be kept unchanged at the meeting of the Central Bank in Europe.