Mumbai, 30 April. Indian stock market had a very bad start today amid bad signals from the global market. As soon as the market opened on Thursday, there was such a phase of selling that the market crashed within no time. In early trading itself, BSE Sensex fell by about 940 points to 76,556, while Nifty 50 fell by 275 points and slipped below 24,000 to trade at 23,902. This selloff, which came within a few minutes of the market opening, has increased the concern of investors.
When the market opened this morning, signs of decline started appearing. At the time of opening bell, Sensex was down 678 points at 76,817 and Nifty opened at 23,965 with a weakness of 212 points. Among the 30 companies included in the Sensex, shares of InterGlobe Aviation, Eternal, UltraTech Cement, Mahindra & Mahindra, and Axis Bank were the biggest losers. Whereas shares of Bajaj Finance, Bajaj Finserv, Tech Mahindra, Infosys and Power Grid remained on the rise.
- Rupee hits record low, crude oil prices rise
Along with the decline of the market, the country’s currency ‘Rupee’ has also become a victim of historical weakness. The Indian rupee has fallen by 20 paise to reach a record low of 95.126 against the dollar. The biggest reason for this decline is the fire in crude oil prices. Global benchmark Brent crude has now reached around $120 per barrel. With no hope of peace between America and Iran, the oil supply is in crisis, which is directly impacting emerging economies like India.
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