FinanceStock Market

Stock Market Plunge: 14 Trillion Wiped in a Day, Small-Cap Index Drops 2,189 Points

Today, on March 13, a significant decline has been witnessed in the stock market. The Sensex dropped by 906 points and closed at 72,761. Nifty also saw a decline of 338 points, closing at 21,997.

Small and Mid-cap Indices Also Decline

Both the small-cap and mid-cap indices saw declines today. The small-cap index fell by 2,189 points (5.11%) to close at 40,641, while the mid-cap index dropped by 1,646 points (4.20%) to close at 37,591.

Jet Airways Leads Decline in Sensex Stocks

Out of the 30 stocks in the Sensex, 23 witnessed a decline while only 7 saw an increase. Jet Airways’ shares hit the lower circuit for the fifth consecutive day, increasing by Rs. 2.15 (5.00%) to close at Rs. 45.20.

Investors Face Losses of ₹14 Trillion

The market capitalization of the stock market stood at Rs. 385.64 trillion yesterday, which has now decreased to Rs. 371.69 trillion, resulting in a loss of ₹14 trillion in market capitalization.

BSE Small-cap Index Drops by 7% in the Last 5 Days

The BSE Small-cap index has witnessed a decline of more than 7% in the last five days. Following SEBI’s chairman’s concerns, there is pressure seen in mid-cap and small-cap indices. SEBI expressed concerns about the high valuations of small and mid-sized companies.

Expert’s Opinion on Market Bubble

It was stated, “Some people are calling this a bubble. It’s not appropriate to inflate these reports. If they continue to build and burst, it will affect the investors. This is not a suitable situation. The valuation of these companies does not reflect their fundamentals.”

Poor Listing of J G  Chemicals in the Market

J G  Chemicals had a poor listing in the stock market. It is listed on the NSE with a 5.43% discount at Rs. 209 per share and on the BSE with a 4.52% discount at Rs. 211 per share, while the IPO price was Rs. 221.

Market Witnesses Rally Yesterday

Yesterday, on March 12, the stock market witnessed a rally. The Sensex gained 165 points to close at 73,667, while Nifty also saw a rise of 3 points to close at 22,335.

Akash Shrivastav

My name is Akash Shrivastav, and I am a Blogger. I have 8 years of experience in blogging for Finance, Business, Investment, Stock Market, Cryptocurreny and more. Through my writing, I aim to provide readers with insightful and informative content.