<p>The stock market closed in red on Friday as the <a href="https://www.deccanherald.com/search?q=sensex">Sensex </a>and Nifty-listed shares experienced a steep fall due to multiple factors. While the Bombay Stock Exchange’s 30-share Sensex dropped 1,092 points to settle at 74,775.74, the 50-share Nifty ended at 23,547.75, closing below 24,550 points or 1.5 per cent. </p><p>During the day, Sensex dropped 1,278.69 points whereas Nifty dived 359.40 points - a fall for the third consecutive session. Investors reportedly lost Rs 6 lakh crore as Sensex market capitalisation dropped from Rs 471 lakh crore to Rs 465 lakh crore.</p><p><strong>Which shares endured the most losses?</strong></p><p>Among 30 Sensex firms, Power Grid, InterGlobe Aviation, NTPC, Mahindra & Mahindra, Tata Steel and Bajaj Finance were the major laggards.</p><p>Stocks of Power Grid and InterGlobe Aviation both fell 4 per cent whereas oil and gas, metal, auto, healthcare, and consumer durables lost up to 2 per cent. Besides, Bank Nifty, Private Bank, Financial Services, Pharma and FMCG all declined over 1 per cent.</p><p>On the other hand, IT stocks of companies like Tech Mahindra, HCL Tech, and Wipro emerged as the top gainers in this session.</p>.Stock markets climb in early trade amid drop in oil prices.<p><strong>What drove the losses?</strong></p><p>According to experts, several factors such as geopolitical uncertainty and monsoon forecasts by the India Meteorological Department (IMD) are the driving force behind these losses.</p><p>Hariprasad K, Research Analyst and Founder, Livelong Wealth, said, "Geopolitical uncertainty continued to weigh on investor confidence. Although initial optimism emerged around a possible extension of the US-Iran ceasefire arrangement, the absence of formal confirmation from Washington kept global institutional investors cautious ahead of the weekend, limiting aggressive risk-taking across equities.”</p><p>Moreover, Vinod Nair, Head of Research, Geojit Investments Limited, credited the monsoon forecast and likelihood of El Niño as the key reasons. </p><p>"The market witnessed broad-based selling pressure following the IMD's monsoon forecasts to 90 per cent of the long-period average, raising concerns among investors. The prospect of deficient rainfall, coupled with the increasing likelihood of an El Niño weather pattern, has heightened fears of elevated food inflation in the coming month," Nair said.</p><p><em>(With PTI inputs)</em></p>
<p>The stock market closed in red on Friday as the <a href="https://www.deccanherald.com/search?q=sensex">Sensex </a>and Nifty-listed shares experienced a steep fall due to multiple factors. While the Bombay Stock Exchange’s 30-share Sensex dropped 1,092 points to settle at 74,775.74, the 50-share Nifty ended at 23,547.75, closing below 24,550 points or 1.5 per cent. </p><p>During the day, Sensex dropped 1,278.69 points whereas Nifty dived 359.40 points - a fall for the third consecutive session. Investors reportedly lost Rs 6 lakh crore as Sensex market capitalisation dropped from Rs 471 lakh crore to Rs 465 lakh crore.</p><p><strong>Which shares endured the most losses?</strong></p><p>Among 30 Sensex firms, Power Grid, InterGlobe Aviation, NTPC, Mahindra & Mahindra, Tata Steel and Bajaj Finance were the major laggards.</p><p>Stocks of Power Grid and InterGlobe Aviation both fell 4 per cent whereas oil and gas, metal, auto, healthcare, and consumer durables lost up to 2 per cent. Besides, Bank Nifty, Private Bank, Financial Services, Pharma and FMCG all declined over 1 per cent.</p><p>On the other hand, IT stocks of companies like Tech Mahindra, HCL Tech, and Wipro emerged as the top gainers in this session.</p>.Stock markets climb in early trade amid drop in oil prices.<p><strong>What drove the losses?</strong></p><p>According to experts, several factors such as geopolitical uncertainty and monsoon forecasts by the India Meteorological Department (IMD) are the driving force behind these losses.</p><p>Hariprasad K, Research Analyst and Founder, Livelong Wealth, said, "Geopolitical uncertainty continued to weigh on investor confidence. Although initial optimism emerged around a possible extension of the US-Iran ceasefire arrangement, the absence of formal confirmation from Washington kept global institutional investors cautious ahead of the weekend, limiting aggressive risk-taking across equities.”</p><p>Moreover, Vinod Nair, Head of Research, Geojit Investments Limited, credited the monsoon forecast and likelihood of El Niño as the key reasons. </p><p>"The market witnessed broad-based selling pressure following the IMD's monsoon forecasts to 90 per cent of the long-period average, raising concerns among investors. The prospect of deficient rainfall, coupled with the increasing likelihood of an El Niño weather pattern, has heightened fears of elevated food inflation in the coming month," Nair said.</p><p><em>(With PTI inputs)</em></p>
