On the last trading day of the week today i.e. Friday (28 February), the Sensex fell by 1414 points (1.90%). It closed at 73,198. Nifty also fell by 420 points (1.86%) and closed at 22,124. BSE Small Cap fell by 1,028 points (2.33%), it closed at 43,082. Mid Cap also fell by 853 points (2.16%), it closed at 38,592. Out of 30 Sensex stocks, 29 fell and only one (HDFC Bank) rose. Out of 50 Nifty stocks, 45 fell and only 5 rose. All sectoral indices of NSE declined today. The biggest decline was in Nifty IT by 4.18%, Auto by 3.92%, Media by 3.48%, Public Sector Banks by 2.83% and Metal by 1.39%. Apart from this, Pharma, Banking, FMCG and Financial Services witnessed a decline of up to 2%. Investors’ wealth decreased by Rs 8.95 lakh crores Due to the sell-off in the stock market, the wealth of investors decreased by Rs 8.95 lakh crores. On Friday, 28 February, the overall market cap of companies listed on BSE stood at Rs 384 lakh crores. On 27 February, it was around Rs 393 lakh crores. 3 reasons for the decline in the market: More than 3% decline in the global market Tuhin Kant Pandey will be the new Chief of SEBI The Central Government has appointed Finance Secretary Tuhin Kant Pandey as the next Chief of the Securities and Exchange Board of India (SEBI). Tuhin will hold this post for the next 3 years. He will replace the current Chief Madhabi Puri Buch. Madhabi is retiring today (28 February). Tuhin Kant Pandey is a 1987 batch IAS officer of Odisha cadre. He is one of the busiest secretaries of India in the Modi 3.0 government. He is currently handling four important departments in the central government. He was appointed to the post of Finance Secretary on 7 September 2024. The stock market traded flat yesterday. Yesterday i.e. on Thursday (27 February), the Sensex closed at 74,612 with a gain of 10 points. Nifty closed 2 points down at 22,545. Out of 30 Sensex stocks, 13 declined and 16 rose. Out of 50 Nifty stocks, 31 declined and 19 rose. The media sector of the NSE sectoral index fell the most by 3.58% and the auto sector by 1.51%. While the Nifty Bank, Metal and Financial Services index fell by up to 1%. —————————— Read this news too… Tuhin Kant Pandey will be the new SEBI Chief: Tenure will be of 3 years; will replace Madhabi Buch, who is retiring on 28 February The Central Government has announced the appointment of Finance Secretary Tuhin Kant Pandey as the next Securities and Exchange Board of India (SEBI) chief. Tuhin will hold this position for the next 3 years. He will replace the current SEBI Chief Madhabi Puri Buch, who is retiring on 28 February. Read full news…
