Stock Market: The stock market continues to fall since this morning. The stock market opened in the red today. Weakness is being seen in Sensex and Nifty since the opening of the market. Sensex has fallen by more than a thousand points. Sensex is currently trading at the level of 71,881.55, down more than 1200 points.
Highlights
- Stock market opened with big fall this morning.
- Sensex is in bad shape, fell by more than 1200 points.
- Nifty fell by 355 points at 21,677.25
A huge decline is being seen in the stock market today.
Sensex and Nifty opened with a big fall. The Market has continued to fall since morning due to the weak trend of Asian markets and heavy selling in bank shares. BSE’s 30-share Sensex fell 1,371.23 points to 71,757.54 in early trade.
Whereas the National Stock Exchange’s Nifty was trading at 21,636.95, down 395.35 points. Among Sensex companies, HDFC Bank’s shares have fallen by six percent after its December quarter results. HDFC Bank’s net profit for the October-December quarter stood at Rs 17,258 crore, an increase of 2.65 percent. It was Rs 16,811 crore in the September quarter.
Shares of Axis Bank, Tata Steel, Kotak Mahindra Bank, ICICI Bank, Tata Motors and Bajaj Finance were also in the red. On the other hand, shares of Tata Consultancy Services, Reliance Industries, UltraTech Cement, Infosys, HCL Technologies and Tech Mahindra were trading with gains.
This caused the decline
The main reason for this decline in the stock market today is the tension between Iran and Pakistan. The impact of the possibility of worsening geopolitical situation of both is visible on the stock market. There has been increased pressure on the stock market and there has been a decline.
Actually, Iran has targeted the bases of terrorist organization Jaish al-Adal in Balochistan of Pakistan. After this attack, Pakistan has condemned the violation of its airspace and warned Iran of facing serious consequences. The effect of this is being seen on the stock market.
Investors suffered losses
Due to this decline in the stock market, investors are suffering huge losses. There was a rise in the market recently. The market was at its record high. Now investors have been shocked by the sudden fall in the market. Before this, a decline was seen in the market yesterday i.e. on Tuesday also.
The rise in the domestic stock market that had been going on for the last five trading sessions came to a halt yesterday. BSE Sensex fell by 199 points due to selling in shares of IT and petroleum companies amid weak global trend. NSE Nifty also closed with a fall of 65.15 points.
Also read: Sensex Breaches Record 64,000, Nifty Scales 19,000. Peak Of All Time High