The Indian stock market has seen a huge decline in Thursday's trading session. During this period, the Sensex closed at 71,593.24 with a fall of 1,045.46 points or 1.44 percent. The National Stock Exchange (NSE)'s main index Nifty closed at 22,231.80, down 371.25 points or 1.64 per cent.
In the trading session, Nifty touched a low of 22,179.90, which is its 52-week low. There has been an all-round decline in the market. Almost all the indices closed in the red, including Nifty Metal 3.55 percent, Nifty Realty 3.16 percent, Nifty Energy 2.82 percent, Nifty Commodities 2.81 percent, Nifty Media 2.79 percent, Nifty India Defense 2.76 percent, Nifty India Manufacturing 2.61 percent, Nifty Oil & Gas 2.52 percent, Nifty Auto closed down by 2.49 per cent, Nifty PSE down by 2.40 per cent, Nifty Healthcare by 2.33 per cent and Nifty Pharma by 2.32 per cent.
Along with largecap, midcap and smallcap also saw a decline. The Nifty Midcap 100 index was down 1,500.10 points or 2.53 per cent at 57,882.50 and the Nifty Smallcap 100 index was at 19,050.10, down 456.85 points or 2.34 per cent.
ITC, IndiGo, Power Grid, BEL, NTPC, Maruti Suzuki, Tata Steel, UltraTech Cement, L&T, Bharti Airtel, Asian Paints, Bajaj Finserv, Sun Pharma, HDFC Bank, Eternal and HUL were the top losers in the Sensex pack. Tech Mahindra, Axis Bank and Infosys were the gainers.
Experts said that high prices of crude oil ($103 per barrel), weakness of rupee against dollar to 97 and continuous selling by FIIs were the main reasons for the decline in Indian markets. Selling was seen across all sectors, with the metal and realty sectors falling the most at 3.6 per cent and 3.2 per cent respectively.
He further said that there was movement in some specific stocks during the market, the shares of companies which showed good initial results of the second quarter, outperformed the market.
Shares of Senco Gold rose by 11.9 percent during the day, but later the gains were reduced due to deteriorating market mood. At the same time, shares of PNGS Reva Diamond Jewelery continued to rise for the fourth consecutive day, as the company had released strong results this week.
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