The stock market saw a big decline today, i.e. on January 17. The Sensex closed at 71,500 after falling 1628 points. At the same time, the Nifty also broke 460 points. It closed at 21,571.
In today’s trading, auto and banking shares fell the most. After the quarterly results, HDFC Bank shares fell more than 8%. Kotak Bank also closed down by about 4%. At the same time, Tata Motors, Mahindra and Mahindra and Maruti Suzuki have fallen by more than 1%.
Reasons for the Indian Stock Market Crash
Heavy selling in banking shares has affected the entire market. As a result, the Nifty Bank broke more than 2.5%. After a sharp rally in the markets, people are booking some profits. Mid and small caps have become overvalued. Weak global cues have dragged the market down. On Tuesday, the Dow Jones fell 0.62%. After the Israel-Hamas war, tensions between Iran and Pakistan have increased again, causing geo tension to rise again. Last chance to apply for Medi Assist Healthcare Services IPO The initial public offering, i.e. Medi Assist Healthcare Services Limited’s IPO, is open for subscription. You can apply for it till January 17, i.e. today. The company is looking to raise Rs 1,171.58 crore through this issue.
For this IPO, retail applicants will have to apply for at least one lot, i.e. 35 shares. The company has fixed the IPO price band at Rs 397-418 per share.
If you apply for one lot at the upper price band of Rs 418 of the IPO, you will have to block Rs 14,630. Cut-off applicants can bid for a maximum of 13 lots, i.e. 455 shares, for which they will have to block Rs 190,190.
The market saw a decline yesterday Earlier yesterday, i.e. on January 16, the stock market saw a decline. The Sensex closed at 73,128 with a decline of 199 points. Along with this, the Nifty also fell 65 points. It closed at 22,031. Of the 30 shares of the Sensex, 19 fell and 11 rose.
Note: Stock market is subject to risk, do invest with more care and research.
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