Stock Market Today: Stock market fell due to rise in crude oil and banking selling, Sensex fell by 553 points.
Mumbai. A huge fall was recorded in the domestic stock markets in early trading on Tuesday. Investor sentiment has been badly affected due to renewed tensions in West Asia (Middle East) and the rise in crude oil prices. Apart from this, fresh selling by foreign institutional investors (FIIs) and weak signals from global markets also put double pressure on the domestic market.
Big fall in initial business
During early trading, the 30-share sensitive index Sensex of Bombay Stock Exchange (BSE) opened with a fall of 344.06 points at 77,272.34 points. This decline in the market became deeper and at one time the Sensex fell by 552.99 points (0.71%) to 77,063.41 points. Till the time of writing the news, it was trading at 77,148.86 points with a weakness of 467.54 points or 0.60 percent.
On the other hand, the Nifty-50 index of the National Stock Exchange (NSE) also fell by 143 points and opened at 24,068 points. During trading, Nifty slipped 160.45 points to the level of 24,050.55 points. Till the time of writing the news, it was down by 140.35 points (0.58 percent) at 24,070.65 points.
Selling in King and IT, buying in FMCG
An all-round selling environment is being seen in the market today. The indices of Banking, Financial Services (Finance), Auto, Realty, Chemical, Consumer Durables, Oil & Gas and IT groups are declining. Even in this period of market decline, investors’ buying continues in metal, pharma, healthcare and FMCG sectors.
condition of major stocks
Most of the top 30 Sensex companies were trading in the red, with shares of InterGlobe Aviation (IndiGo), Bajaj Finance, Mahindra & Mahindra and HCL Tech falling more than 2 per cent. Shares of Bajaj Finserv, UltraTech Cement, L&T (Larsen & Toubro), Kotak Mahindra Bank, Axis Bank, State Bank of India (SBI) and ICICI Bank fell 1 to 2 per cent. Despite this fall, shares of Bharti Airtel, Tata Consultancy Services (TCS), Adani Ports, Tata Steel and Sun Pharma are trading in the green (strongly).
Global and other factors
The price of international standard Brent crude rose by 1.63 percent to $ 84.60 per barrel, which increased market concerns. According to stock market data, foreign institutional investors (FIIs) were net sellers on Monday and sold shares worth a total of Rs 3,062.27 crore. American stock markets closed with a decline on Monday, the effect of which was also visible on Asian markets today. South Korea’s Kospi is trading with a huge fall of 3.71 percent. Apart from this, Japan’s Nikkei 225, China’s SSE Composite and Hong Kong’s Hang Seng are also in loss. It is noteworthy that in the previous session, i.e. after volatile trading on Monday, BSE Sensex had closed with a nominal gain of 47.01 points and NSE Nifty with a gain of 4.10 points.
Comments are closed.