MSCI's estimates regarding HDFC and HDFC Bank dominated the stock market. Both Sensex and Nifty saw a decline of more than 1 percent. Because of which the stock market investors lost more than Rs 1.5 lakh crore. If we talk about HDFC and HDFC Bank shares saw a decline of up to 6 percent. The total market cap of both the companies has decreased by more than Rs 85 thousand crore. IndusInd Bank's stock saw a decline of more than 5.5 percent.
The market boomed
According to stock market data, the Bombay Stock Exchange's flagship index Sensex closed at 61,054.29 points, down 694.96 points. While the Sensex reached 61,002.17 points during the trading session. The National Stock Exchange's flagship index Nifty closed at 18,069 points with a decline of 186.80 points. The Nifty reached 18,055.45 points during the trading session.
HDFC Twin shares fell 6 percent
The real reason for the fall in the stock market is the huge fall in the shares of HDFC Twin. Shares of HDFC closed at Rs 2,703, down 5.57 per cent, and touched Rs 2,695 during the trading session. At the same time, HDFC Bank shares closed at Rs 1627, down 5.80 per cent. The bank's stock closed at Rs 1,622 during the trading session. Where there was a loss of Rs 29,233.66 crore in the market cap of HDFC and Rs 55,946.10 crore in the market cap of HDFC Bank. In such a situation, the market cap of both the companies jointly decreased by Rs 85,179.76 crore.
Market investors lost Rs 1.45 lakh crore
Due to the fall in the stock market, the stock market investors have suffered a loss of about Rs 1.5 lakh crore on this day. According to the data, when the BSE was closed a day ago, its market cap was closed at Rs 2,75,20,795.19 crore. When the market closed today, the market cap was reduced to Rs 2,73,75,251.56 crore. This means that the market investors were left with Rs 1,45,543.63 crore.
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