Stock Market Crash: Sensex falls 700 points due to stalled Iran peace talks, pressure on IT-banking sector, know the main reasons for the fall
Mumbai. Domestic stock markets witnessed a decline in early trade on Friday due to the stalling of peace talks between the US and Iran, especially the shares of IT companies witnessed the biggest selling. BSE Sensex opened at 77,483.80 points falling 180.20 points and after that it continued to fall. At the time of writing, it was down by 762.03 points (0.98 percent) at 76,901.97 points.
There is all-round selling in the market due to no solution in the peace talks between America and Iran. All indices are in red. Investment sentiment is also being affected by the ongoing decline in the rupee against the dollar. The Nifty-50 index of the National Stock Exchange also slipped 72.50 points and opened at 100.55 points.
The IT sector was under the most pressure and its index slipped by more than two percent. There was also a decline of more than one percent in the media sector. More pressure was also seen on metal, auto, banking, finance, pharma and oil and gas groups. HCL Technologies’ share among Sensex companies is currently down by more than four percent.
Infosys shares are also down by about four percent. Shares of Tech Mahindra, TCS, Sun Pharma and Eternal fell by two per cent to three per cent. Shares of BEL, Bharti Airtel, Maruti Suzuki, Power Grid and ICICI Bank are down by one to two percent. Mahindra & Mahindra shares are up.
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