Stock Market: Stock market opened in red due to weak global signals, Sensex below 75,000.

Mumbai, 18 May. The Indian stock market opened with a decline in Monday’s trading session due to weak global cues. In the morning, Sensex was at 74,422 with a weakness of 851 points or 1.08 per cent and Nifty was at 23,392 with a decline of 246 points or 1.04 per cent. All-round selling is being seen in the market. Nifty Consumer Durables and Nifty Realty were the losers among the indices. Almost all the indices were in the red with Nifty Media, Nifty Auto, Nifty Financial Services, Nifty PSU Bank, Nifty PSE, Nifty Consumption and Nifty Energy in the red.

Along with largecap, midcap and smallcap also saw a decline. The Nifty Smallcap 100 index was at 17,635, down 246 points or 1.38 per cent, and the Nifty Midcap 100 index was at 59,876, down 690 points or 1.14 per cent. Infosys, Tech Mahindra, TCS and Bharti Airtel were the gainers in the Sensex pack. Power Grid, Tata Steel, Maruti Suzuki, HDFC Bank, Titan, M&M, HUL, Bajaj Finance, Indigo, SBI, Bajaj Finserv, Trent, UltraTech Cement, Eternal, Asian Paints, L&T, Kotak Mahindra Bank, BEL, NTPC and ITC were among the losers. Most Asian markets were trading in the red.

Tokyo, Shanghai, Bangkok, Hong Kong and Jakarta were in the red, while Seoul was in the green. US stock markets closed with a decline on Friday, with the main index Dow Jones falling 1.07 percent and the technology index Nasdaq falling 1.54 percent. According to experts, the reason for the fall of global markets along with India is the rise in crude oil due to Iran-America tension. Till the time of writing the news, the price of Brent crude has increased by 1.79 percent to $ 111 per barrel and the price of WTI crude has increased by 2.17 percent to $ 103 per barrel.

Apart from this, America’s 10-year bond interest rate falling to 4.63 percent is also a reason for selling in the global markets. Foreign institutional investors (FIIs) were net sellers in Friday’s session and had purchased Rs 1,329.17 crore. At the same time, domestic institutional investors (DIIs) sold equities worth Rs 1,958.82 crore during this period.