Heavy fall in share market: Sensex opens below 78000, Iran tension and crude oil prices impact the market.

Indian Share Market Update: The Indian stock market has started today Thursday with a very weak and huge fall. BSE Sensex opened at 77983, below the 78000 level with a huge loss of 532 points. At the same time, NSE Nifty has also suffered a huge fall of 175 points in early trade and has come down to 24202. The main reason for this huge fall in the share market is the ongoing tension between Iran and America in the Strait of Hormuz.

Major shares of Sensex

The biggest decline in Sensex this morning was seen in Mahindra & Mahindra, Indigo, Asian Paints and Bajaj Finance. Shares of all these major companies have fallen drastically by 1.61 to 2 percent during early trading. However, some shares like Power Grid, Sun Pharma, TCS, Trent and BEL are in the green despite the deteriorating environment in the market.

impact of global stress

The entire world’s supply chain is at great risk due to Iran intensifying its crackdown on ships in the Strait of Hormuz. These incidents, which are happening despite the US continuing blockade and ceasefire, have increased the concern of the share market. Reserve Bank Governor Sanjay Malhotra has also said that this crisis in West Asia is creating many risks for India.

huge rise in crude oil

The second biggest reason for the decline in the market is the continuous increase in international crude oil prices. At present, the price of Brent crude oil has crossed the important level of $ 102 per barrel in the market. Along with this, the huge rising trend in the prices of WTI crude oil is also scaring the investors of the share market.

decline in indian currency

Along with this huge fall in the share market, there has also been a huge weakness in the Indian currency rupee today. The rupee opened today down 20 paise against the US dollar from its previous closing level of 93.7950. After this fall, the price of one US dollar in the foreign exchange market has now directly come down to the level of Rs 94.

negative sign of gift nifty

This morning, a lot of negative signals were received from Gift Nifty for the Indian Stock Market. During trading, GIFT Nifty was trading at around 24,210 level, which shows a huge fall of about 170 points. This is the reason why market experts had already indicated that today the beginning will be negative.

Asian markets boom

In contrast to the Indian market, this morning a much stronger and bullish trend has been seen in many Asian markets. Japan’s Nikkei 225 index rose 0.6 percent to its all-time high intraday level of 60,013.98. South Korea’s Kospi also gained a handsome 1.75 percent and touched a new record high of 6,538.72.

Great performance of American market

There was a tremendous rally in last night’s trading on Wall Street, due to which some enthusiasm was seen among the investors. The S&P 500 index rose 73.89 points, or 1.05 percent, to 7,137.90 and closed at a new record high. Nasdaq Composite also closed very strongly at 24,657.57 with a big gain of 397.60 points or 1.64 percent.

softening of gold and silver

Amidst the instability in the share market, a slight decline has also been recorded in the prices of precious metals today. Spot gold price has fallen 0.3 percent to a new level of $ 4,727.65 an ounce. At the same time, the price of silver has also decreased by 0.3 percent due to which it has come down to $ 77.48 per ounce.

weak condition of last session

Before today’s fall, the Indian stock market had faced a huge fall on Wednesday also. In the last session, the Sensex fell by 756 points and closed at 78,516, due to which the three-day rally of the market was completely broken. On Wednesday, Nifty 50 also fell by about 198 points and finally closed at the level of 24,378.

Also read: EPFO ​​update: Now withdraw PF money through ATM and UPI, claims up to Rs 5 lakh will be auto-settled.

Better results of Tesla company

Meanwhile, a positive news from foreign markets is the excellent results of electric vehicle manufacturing company Tesla. Tesla has delivered better than expected results in its first quarter and its profit has increased by 17 percent. The company has also presented before the world plans for big investments in the field of Artificial Intelligence, Robotics and Automation.