RBI down 434 points on Sensex, lowering GDP estimates

Ahmedabad. 4 October 2019, Friday

Various adversities, both domestically and globally, were adversely affected by the stock market, but today, the Reserve Bank also hit a 434-point gain in the BSE Sensex, amid a panic selling stock from Chomer, with the stock market morale declining in GDP estimates. The Nifty, on the other hand, has lost an important level of 11200 today.

With the Reserve Bank lowering the expected 0.25 percent rate in the report today, the current year's GDP growth projection, which was 6.9 percent earlier, was severely affected by reports of 6.1.

However, shortly before the downturn in the stock market, which was losing the economy due to various adversities, the government had declared relief but shortly after the crisis in the banking sector, the stock market was also under pressure. On the other hand, the Reserve Bank of India today has been hit by a slowdown in the market, reducing GDP estimates.

The Sensex closed 433.56 points lower at 37673.31 at the end of the one-day retreat. At the NSE, it was down 11174.74, hitting a gain of 139.25 points in the Nifty on heavy selling.

The Nifty lost an important 11200 surface today. The bearish circuit was implemented in 346 stocks at BSE following heavy selling pressure. Investors' wealth (BSE market cap) today rose to Rs. 1.42 lakh crore at the end of the working period. 143.18 lakh crore had been derived. The BSE market cap, which recorded a gain of 1,300 points in the past five days, also closed at Rs. Five lakh crores have been eroded.