Share Market Update: Sensex fell 400 points, Nifty fell 130 points, selling in auto and bank shares…

Business Desk- Share Market Update: On May 8, Sensex is trading at 77,450, which is down 400 points (0.50%). Nifty has also fallen by 130 points (0.50%) to the level of 24,200. In today’s trading session, selling pressure is clearly visible in auto and banking stocks, while there is buying interest in pharma and IT sectors.

Effect of selling in Asian markets

The effect of increasing selling pressure in global markets was clearly visible in Asian stock markets on Friday. Due to investor caution and weak international cues, most Asian indices were seen trading in the red.

South Korea’s KOSPI index closed at 7,413, down 75 points (1.05%). At the same time, a huge fall of 660 points was seen in Japan’s Nikkei index. It came to 62,174. Hong Kong’s Hang Seng index also remained under pressure, falling 335 points (1.24%) to close at 26,291.

Weakness was also seen in American markets

Before the Asian markets, an atmosphere of weakness was also seen in the American stock markets. On May 7, American markets closed with a decline, which affected the mood of investors around the world.

The Dow Jones index fell 314 points and closed at 49,597. Tech-heavy Nasdaq recorded a decline of 33 points. It closed at the level of 25,806. Apart from this, the S&P 500 index slipped 28 points to 7,337.

Selling by foreign investors continues

There is continuous selling pressure from foreign investors in the Indian stock market. During the last trading session, foreign institutional investors (FIIs/FPIs) sold shares worth Rs 341 crore. However, domestic institutional investors (DIIs) are continuously supporting the market with their purchases.

DIIs invested Rs 441 crore in a single day. In the last 7 days, domestic investors have made purchases worth Rs 14,645 crore. A total of Rs 31,092 crore has been purchased in the last 30 days. In contrast, foreign investors have sold Rs 6,962 crore in the last 7 days and Rs 39,164 crore in the last 30 days.

Indian market may remain under pressure

The impact of weakness in global markets, decline in American markets and continuous selling by foreign investors can be seen on the Indian stock market. Experts believe that investors will keep a close eye on global cues and foreign fund inflows in the coming trading sessions.

Yesterday Sensex closed down 114 points

Yesterday on May 7, the Sensex closed at 77,845, a decline of 114 points (0.15%). Nifty also saw a decline of 4 points (0.02%). It closed at 24,327. During yesterday’s trading session, buying activity was seen in auto and realty stocks, while selling pressure was clearly visible in the FMCG sector.