Nifty 50 index falls 1.25% on the back of today’s trading session and severely pushes the stock market inwards of India. The major stocks like BHEL, Mahindra & Mahindra, Coal India, and Adani Enterprises led in this downfall.
While the biggest shocker has been BHEL, whose value had dropped by 3.79% as an LTP of ₹271 was seen. A government-owned electrical equipment manufacturing company, BHEL has been a stalwart in the last one year, delivering a whopping 98.73% return to its investors. The stock, however, had taken a hammering in the recent past and has seen a steep fall of over 14% in the last month alone.
Another big beneficiary of this brutal day was M&M, which took a hit of 3.63%, having its LTP at ₹2,889. M&M is an automobile manufacturer and is headquartered in Mumbai, and this stock has been a successful one, chalking up more than 80% returns over the last one year, but today’s market correction really belted the stock hard.
Coal India, the government-owned coal producer controlled by the Ministry of Coal, lost 3.36% with LTP at ₹469. It had given over 50% return to its shareholders in the past year. However, like the other two major stocks, it took a pretty big drop in today’s trade.
This also partly reflected in Adani Enterprises, which failed to break the downtrend. Presently, market action appears to follow the general bearish sentiments but not that it sets precedents in a generalized manner; every stock is different and past performances do not say much about the present.
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October 23rd is celebrated as mole day!
As Stated in Bhagavad Gita:
“सर्वभूतानि कृत्स्नानि समं दृष्ट्वा ततो भृशम्।”
“One who sees all beings in the Self, and the Self in all beings, is a true yogi.”
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