Share Market: Big fall in share market, Sensex fell by 400 points; Market shaken by tension in Middle East

Share Market Opening Bell 8th July: After the continuous rise in the Indian stock market for the last five trading sessions, a big decline is being seen today on Wednesday. Where both the major market indices Sensex and Nifty opened for trading in the red. During early trade, BSE Sensex was seen trading at 77,745.61, down 435.11 points or 0.56 percent. Whereas NSE Nifty is trading at 24,260.00, down 138.70 points or -0.57 percent. The real reason for the decline in the domestic market is being attributed to America’s attack on Iran.

Along with largecap, selling was also seen in midcap and smallcap. In early trade, the Nifty Midcap 100 index was at 62,116 with a weakness of 169 points or 0.27 per cent and the Nifty Smallcap 100 index was at 19,164 with a weakness of 55 points or 0.29 per cent.

More impact on oil and gas stocks

Among the indices, maximum pressure was being seen on oil and gas and auto stocks. Nifty Oil & Gas and Nifty Auto were the top losers. After this, Nifty PSU Bank, Nifty Infra, Nifty Media, Nifty PSE, Nifty Commodities and Nifty FMCG were in the red. Nifty Pharma, Nifty Healthcare, Nifty IT and Nifty India Defense were in the green.

Today’s Top Losers and Gainers

Sun Pharma, HCL Tech, Infosys, TCS, Power Grid and Tech Mahindra were the gainers in the Sensex pack. Indigo, Asian Paints, Maruti Suzuki, M&M, Bajaj Finance, M&M, Eternal, HUL, UltraTech Cement, SBI, BEL, L&T, Kotak Mahindra BankTata Steel, Axis Bank, Trent and Bharti Airtel were the losers.

Condition of other markets in Asia

Mixed trading is taking place in global markets. Tokyo and Seoul were in the red, while Shanghai and Hong Kong were in the green. American stock market They were closed in the red on Tuesday. The reason for the fall in the market is the latest attacks on Iran by America and the cancellation of Iran’s oil selling license.

Also read: Fire broke out in crude oil markets, what happened in Hormuz that Brent crude crossed 76 dollars?

Increase in crude oil prices

According to the US military, the new attacks on Iran follow the attack on three oil-laden ships passing through Hormuz. Due to this, tension has again increased between the two countries. Due to this, a sharp increase in the prices of crude oil has been seen. Benchmark Brent crude was up 2.66 per cent at $76.13 per barrel and WTI crude was up 2.64 per cent at $72.33 per barrel.