The new business week has started from today. There was a huge fall in the Indian stock market on the first day of this new trading week, which shocked investors and traders. Both Sensex and Nifty indices recorded a sharp fall, indicating bearish sentiment in the market.
today’s stock market performance
On May 13, 2024 (Monday), both the stock market indices opened in the red. Many experts say that the market has declined due to the election environment. At the same time, some traders believe that the market may rise after the quarterly results of the companies this week. Today Sensex is trading 609 points down and Nifty down 169 points. Even after this the market continues to decline. Around 10 o’clock the Sensex is trading at 71922.21 points.
Why did the market fall?
The market declined due to continuous withdrawal of foreign funds, weak trend from Asian markets and heavy selling in Tata Motors.
Top gainers and losers
Shares of Tata Motors fell more than 7 percent against the Sensex basket. At the same time, shares of JSW Steel, Tata Steel, NTPC, State Bank of India, Power Grid and Mahindra & Mahindra are also trading falling. There has been a rise in the shares of Sun Pharma Group.
Global Market Overview
In Asian markets, Seoul, Tokyo and Shanghai were trading lower while Hong Kong was in positive territory. Wall Street closed mostly higher on Friday.
According to exchange data, foreign institutional investors (FIIs) sold equities worth Rs 2,117.50 crore on Friday. Global oil benchmark Brent crude fell 0.31 percent to US$82.53 per barrel.
movement of rupee
The Indian rupee is trading in a tight range against the US dollar, reflecting the cautious stance of investors. Opening at 83.51 against the US currency, the rupee experienced minor fluctuations, indicating stability amid volatile market conditions.
