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KNews Desk: There was tremendous volatility in the Indian stock market during trading on Thursday. There was a bullish atmosphere in the market in the morning and the Sensex had reached very close to 77 thousand. Sensex saw a rise of more than 350 points in early trading, due to which investors were hopeful that the market would close with a strong gain. But in the last 15 minutes of the trading session suddenly selling took over and the entire picture of the market changed. The Sensex fell by more than 771 points from the day's high and finally closed with a fall of more than 400 points.

On Thursday, BSE's main index Sensex closed at the level of 76,153 with a decline of 417 points or about 0.6 percent. However, during the day the Sensex had reached the level of 76,924.48 at around 9:45 am. From this level till the market closed, Sensex saw a fall of 771.62 points. At the same time, Nifty 50 also could not maintain its morning gain and closed at the level of 23,873 with a fall of 41 points or about 0.17 percent. Nifty also fell by about 152 points from the day's peak.

Many reasons are being given for this sudden weakness in the market. High oil prices and fluctuations in bond yields increased investor concerns. Apart from this, there was also weekly expiry on Thursday. After the closing auction session, there was a sudden sharp fall in the Sensex. The bullishness seen in the market in the morning completely disappeared by the end of the trading session and both Sensex and Nifty closed in the red. The biggest impact of the fall in Sensex was seen on big stocks like Titan, Trent, ITC, Mahindra & Mahindra, Bajaj Finserv and HCL Technologies. A decline of about 2 percent was recorded in these shares. Apart from this, shares of Tech Mahindra, Sun Pharma, TCS, UltraTech Cement, Bajaj Finance, Kotak Mahindra Bank, Maruti Suzuki, Indigo and Hindustan Unilever also fell by more than 1 percent. However, some stocks showed strength in the market. Shares of Axis Bank and Adani Ports rose by about 1 percent.

Interestingly, the broader market outperformed the benchmark indices. The Nifty Smallcap 100 gained more than 1 per cent, while the Nifty Midcap 100 index rose about 0.4 per cent. On the NSE, 2,208 shares closed with gains, while 1,313 shares closed with a decline. This indicates that the selling pressure was not uniform across the market and buying continued in many small and medium stocks. The biggest shock in Thursday's trading was seen in the form of reduction in investors' wealth. The total market cap of BSE was Rs 4,92,02,917.14 crore when Sensex reached the peak of the day. But by the time the market closed it came down to Rs 4,87,09,368.73 crore. That is, from the highest level of the day till the market closed, investor wealth of about Rs 4,93,548.41 crore was reduced. In this context, a difference of about Rs 5 lakh crore was seen in the trading time of about 345 minutes. However, if compared to the previous trading day, the actual loss of investors was less than Rs 90 thousand crore. Thursday's trading once again showed how quickly market swings can occur amid factors such as oil prices, bond yields and expirations.