Share Market: Market opened on red mark! Sensex and Nifty fall heavily, investors lose crores of rupees!

Share Market Update: Today i.e. Thursday, there seems to be a break in the bullish trend that has been going on in the Indian stock market for the last few days. Domestic benchmark indices opened with a decline due to weak signals from global markets and profit booking at higher levels.

On the fourth trading day of the week, the 30-share BSE Sensex opened with a fall of 243 points at 77,319. At the same time, the National Stock Exchange’s Nifty (NSE Nifty) also could not maintain its lead and opened at 23,909, falling 88 points. Nifty slipping below the psychological level of 24,000 remains a matter of concern for investors.

Stocks of 1288 companies opened with a decline.

The pressure of weakness was clearly visible in the stock market during early trading today. While the shares of 1215 companies opened in the green with gains, the stocks of 1288 companies were seen opening in the red with a decline. Apart from this, there was no significant change in 174 shares and they opened flat.

If we talk about the major falling stocks, then the shares of Infosys and Adani Ports, included in the BSE largecap category, opened with a fall of more than 2%. Along with this, shares of IndiGo and HDFC Bank also lost their previous gains and were seen in the red. Among midcap stocks, decline was seen in Hindustan Petroleum, Coforge and Bharat Forge. Whereas in the smallcap segment, Chola Holdings was seen trading with a weakness of about 4% and PGEL about 2.5%.

Why did the market fall?

Global signals are being considered to be the main reason for this decline in the market. Especially the increasing tension in the Middle East has increased the concern of investors. The news of breaking of ceasefire declared between America and Iran also affected the Asian markets, where most of the markets remained in the red.

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The impact of these negative global signals was also visible on the Indian market and Sensex-Nifty came under pressure. Apart from this, there is pressure on the market due to slight rise again after the fall in the prices of crude oil.