Stock market fell for the third consecutive day, Sensex fell by 1313 points, Nifty again below 24000.

Mumbai, 11 May. Due to no agreement yet on the peace deal between America and Iran, the domestic stock market declined for the third consecutive trading session due to rising prices of crude oil. In this sequence, on Monday, BSE Sensex fell by 1,313 points while NSE Nifty once again fell below 24,000 points.

It is noteworthy that US President Donald Trump has completely rejected Iran’s response to the new peace proposal. Due to this, the hope of diplomatic success to resolve the crisis in West Asia has weakened for the time being. Meanwhile, Prime Minister Narendra Modi’s appeal for austerity has further heightened investor concerns about foreign exchange reserves, fuel prices and consumption outlook.

Sensex fell 1.70 percent and closed at 76,015.28 points.

Bombay Stock Exchange (BSE)’s 30-share sensitive index Sensex closed at 76,015.28, down 1,312.91 points or 1.70 percent. Among the Sensex related companies, shares of 26 remained in the red while only four had a rise.

Nifty closed at 23,815.85 with a fall of 360.30 points.

Whereas the National Stock Exchange (NSE) standard index Nifty based on 50 shares closed at 23,815.85 points with a decline of 360.30 points or 1.49 percent. Among Nifty related companies, 12 stocks remained on the green mark while 38 stocks recorded a decline.

In the broader market, BSE Midcap Select index comprising of mid-sized companies declined by 1.09 per cent and BSE Smallcap index of smaller companies lost 0.44 per cent.

All-round decline in sectoral index also

If we look at the sectoral indices, the consumer durables index declined by 3.76 per cent, real estate (2.74 per cent), quality index of medium-small private banks (2.60 per cent), BSE PSU banks (2.28 per cent), consumer discretionary goods (2.14 per cent) and electricity (2.13 per cent) segments witnessed decline.

Titan shares fell the most by 7.00 percent

Among the companies included in the Sensex group, Titan’s shares fell the most by 7.00 percent. Shares of InterGlobe Aviation, State Bank of India, Bharti Airtel, Eternal and Reliance Industries also saw a big fall. The profitable stocks include Sun Pharma, Hindustan Unilever, Adani Ports, Kotak Mahindra Bank, Axis Bank and ICICI Bank.

FIIs sold shares worth Rs 4,110.60 crore

According to stock market data, foreign institutional investors (FIIs) sold shares worth Rs 4,110.60 crore on Friday. Global oil benchmark Brent crude rose 2.23 percent to $103.5 per barrel.