Strong sale of shares of government banks and auto companies
The Sensex fell by 435 points
Mumbai: For the fourth day in a row, investors sold heavily in the capital market. The sale of Chauffeur hit government banks and auto companies hard. As a result, the Sensex and Nifty fell sharply. The Sensex fell 435 points and the Nifty fell 137 points. Today’s fall has taken a heavy toll on investors.
The market has been on a sell-off since this morning. The Sensex had lost 100 points in the morning. After that, sales increased. The Sensex fell below 51,000 while the Nifty dipped below 15,000. At the end of the day, the BSE benchmark Sensex fell by 434.93 points, or 0.85 per cent, to close at 50889.76 points on strong selling by banks and auto companies. Similarly, the wide-based National Stock Exchange index Nifty declined by 137.20 points, or 0.91 per cent, to close at 14981.75 points.
Today’s session saw pressure on banks, financial institutions and the automotive sector. ONGC, which had gained ground in the Sensex yesterday, fell 5.06 per cent today. It was followed by SBI, Axis Bank, ICICI Bank, Bajaj Auto, Maruti and M&M, which fell 3.77 per cent. On the other hand, IndusInd Bank, HUL, Dr. Shares of Reddy’s, NTPC, Reliance Industries and Bajaj Finserv rose 1.97 per cent.
The Sensex fell by 654.54 points, or 1.26 per cent, and the Nifty by 181.55 points, or 1.19 per cent, during the week.
The Nifty 50 and the BSE Sensex fell 1.2 per cent this week. Global markets were in a mixed mood after macroeconomic data from the US and Europe were revealed to be weak as economic recovery is expected soon. In Asian markets, Tokyo was negative, while Shanghai, Hong Kong and Seoul were positive. Stock markets in Europe also had positive trading till noon.
Currently, crude oil prices are rising in the global commodity market. Therefore, inflation is likely to skyrocket in India in the near future. In addition, the resurgence of corona patients has raised concerns among investors. The World Health Organization (WHO) says most countries are still waiting for the corona vaccine, even though vaccination has begun. Therefore, it is said that complete control over the corona is not possible at this point. This has created a negative market sentiment, say stockbrokers. Brent crude fell 1.42 per cent to 63 63.14 a barrel in global commodity trade today. The Indian currency market was on holiday today on the occasion of Chhatrapati Shivaji Maharaj’s birth anniversary.
Tags: Auto companies, Big fall in Nifty, capital market, Sensex