Stock market closed: Big fall for the second day amid ongoing crisis in West Asia, Sensex fell by 1,353 points
Mumbai. Amid the ongoing crisis in West Asia, there was a big decline in domestic stock markets for the second consecutive day on Monday. BSE Sensex fell 1,352.74 points (1.71 percent) to close at 77,566.16. The Nifty-50 index of the National Stock Exchange also fell by 422.40 points or 1.73 percent and closed at 24,028.05 points. Both the indices are at a 10-month low. The fall in early trade was more and the Sensex fell by 2,494 points. However later its decline slowed down to some extent.
Due to the ongoing crisis in West Asia since February 28, there is a decline in the stock markets globally, the price of crude oil has increased by more than 50 percent and there is huge pressure on the rupee. This is the fifth major fall in the domestic stock markets in six trading days after February 26.
In these six days, the Sensex has fallen by 4,682.45 points (5.69 percent) and the Nifty-50 index has fallen by 1,468.5 points (5.76 percent). Selling also dominated in medium and small companies. Nifty Midcap-50 index fell 1.81 percent and Smallcap-100 index fell 2.22 percent.
Except IT, indices of all other sectors remained in the red. Auto, banking, consumer durables, oil and gas, metals and chemicals sectors remained under pressure. Shares of UltraTech Cement fell by more than five percent among Sensex companies. Shares of Maruti Suzuki and Mahindra & Mahindra fell by more than four percent.
State Bank of India, Indigo, Adani Ports, Tata Steel and Kotak Mahindra Bank declined by three to four percent. Shares of L&T, Asian Paints, ICICI Bank, BEL, Axis Bank and HDFC Bank fell two to three per cent. Shares of Titan, Bajaj Finance, Hindustan Unilever, PowerGrid, Bajaj Finance, ITC, TCS, Trent, NTPC and Eternal fell more than one percent. Reliance Industries shares closed with a gain of more than one percent. Sun Pharma and Infosys also gained momentum.
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