Core industry declines for the fifth consecutive month, down 1400 points from the highest level in Share Market
new Delhi. As lockdown is being made easier, the core sector is also seeing improvement. Surprisingly, its data has not yet appeared positive. In this round of Coronavirus Lockdown, Core Sector Down has closed for the fifth consecutive month. Let me tell you that the GDP data is also going to come out today, in which it is expected to fall by 18 percent. Stock markets have closed with a major fall amid core sector figures and the possibility of GDP falling.
Core sector decline
The core sector has seen a decline for the fifth consecutive month. According to the data by the government, the core sector stood at -9.6 percent in the month of July. Whereas in the month of June this figure was 12.6 percent. This means that the process of unlocking at regular intervals is showing a slight improvement in the core sector. The lockdown was initiated on March, with the core sector at -8.6 per cent in that month, which went to -37 per cent in the month of April. It improved slightly in the month of May and came in at 22 per cent. In the 8 core industry, coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electric power comprise 40% of the industrial production.
Big fall of nearly 1400 points in the stock market
After the figures of the core sector, the stock market saw a big decline today. The Sessenx dropped from the highest level to around 1400 points. The Bombay Stock Exchange’s leading index Sensex lost 839.02 points to close at 38628.29 points after the market closed. While the Nifty 50 Nifty lost 260.10 points to close at 11387.50 points. While the market had crossed the 40 thousand mark with a rise of about 500 points this morning, the Nifty had reached 11800 points.
Loss of about 5 lakh crores to investors
Investors were also benefiting with the growth in the market last week, which was completely washed away with this decline. Today, market investors lost about Rs 5 lakh crore in about an hour. According to the data, when the market closed on Friday, the market cap of BSE was Rs 1,58,32,220.15 crore. Today, when the market closed down, the market cap stood at Rs 1,53,53,078.80 crore. That is, the market cap saw a drop of Rs 489142.35 crore. This is the loss of market investors here.