On 22nd November 2021, the biggest market crash in seven months Sensex slipped 2% or 1,720.12 points closed at 58,465.89 and nifty recorded a fall of 2% or 384.25 points closed at 17,416.55. Out of the 30 Sensex stock 27 stock ended with drop in price, where as major fall in stock price recorded in Bajaj twins and Bajaj FinServ of 5.7% and 4.7% respectively. Reliance was the biggest casualty on index with a drop of 4%. Also, Paytm’s shares is one of the weighs on market. It came up with largest size IPO, unfortunately listed at discounted price at Rs 1,950 which saw a drop of 30.15% to Rs 1,362 on 22nd November, 2021. Reliance Industries ltd. Scrapped a plan to sell its 20% Oil-to-Chemicals units to the middle eastern company to Aramco. As Aramco signed a non-binding letter in August 2019 intending to purchase stakes worth $15billion, through which Reliance walked away on Friday. The repeal of farm laws has impacted negative market sentiments as it would have been a long-term perspective betterment of future. Foreign Portfolio Investors (FPIs) booked profits worth Rs 3,428.76 crore in Indian shares, while Domestic Institutional Investors bought equities worth Rs 2,051.18 crores. Small cap companies like Motilal Oswal Finance Service Ltd had a 0.72 percent decline to 917.15, while AstraZeneca Pharma saw a 2.83 percent drop to 2,996.05. Tata Power down 3.95 percent to Rs 227.60 in the midcap power sector, while JSW Energy fell 2.74 percent to Rs 2,373.55 in the utilities sector. Thank you.
Regards,
Akash Rathod (Section B),
Kautilya,
IBS Mumbai.
Comments
Insightful !
ReplyDeleteReally well written 👏🏽
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