There is a continuous decline in the stock market. Due to weakness in global markets, selling pressure was seen in the domestic markets on Friday. Sensex fell more than 548 points in early trade. At the same time, Nifty came down to its psychological level of 17,500. After the market opened at 9:22, there was a decline of 526 points in the Sensex and it was at 58,600. At the same time, Nifty was down 142 points at 17,476. At 11.18 in the morning, the Sensex was trading at a level of 58,786.38, down 339.98 points or 0.58%. During this, Nifty was at the level of 17,525.30 and it had lost 92.85 points or 0.53%.
In the opening, all the sectors of NSE were running in decline. The metal index was down 1.4 per cent. Nifty Bank, Financial, Auto, Media, PSU Bank, Private Bank and Consumer Durables indices were also down 0-7 per cent to 1.2 per cent.
Maruti Suzuki was the biggest loser on Nifty. The company’s shares had fallen by 3.3 per cent to Rs 7,097.65 per share. Hindalco, Bajaj Finserv, Asian Paints, Adani Port, HDFC Bank, Bharti Airtel, Tata Steel, Titan, ICICI Bank, Bajaj Finance, JSW Steel also fell 1-2 per cent. Shares of ONGC, Indian Oil, Power Grid, Coal India, Bharat Petroleum, M&M, NTPC and Divi’s Labs gained.
If we look at yesterday’s closing, then the Sensex fell by 254 points on Wednesday due to the fall in the shares of HDFC Bank, HDFC, Reliance Industries and ICICI Bank. The Sensex closed at 59,413.27, down 254.33 points or 0.43 per cent. Nifty fell to 17,711.30 points with a loss of 37.30 points or 0.21 percent.
Vinod Modi, Head of Strategy, Reliance Securities, said, “During the day’s trade, domestic stocks corrected sharply. The market recovered from extremely low levels led by metal, pharma and public sector banks. VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said sentiment in global markets was affected by a sharp jump in 10-year yields on benchmark bonds in the US.