- The stock market opened with a sharp decline on Monday
After 1 year, the Indian stock market has once again come under the spell of Corona. The BSE Sensex has fallen by 1,700 points so far to 48,000. As a result, the market cap has fallen sharply by Rs 9 lakh crore. Within 15 minutes the market completely ruined the atmosphere. In the last 24 hours, 1 lakh 69 thousand 914 cases of the corona were reported in the country.
The Sensex opened 905.36 points lower at 48,685 on Monday morning. It is currently trading at 47,885, down 1705 points. The Nifty also fell 513 points to 14,321.
Reason for decline in stock market
- Corona cases are constantly increasing in the country. 1,96,914 cases have been reported in the last 24 hours. This is the highest number of infected people in a single day in the country.
- A decline in the Asian stock market. These include China’s Shanghai Composite, Hong Kong’s Hang Seng. Similarly, Japan’s Nikkei index traded lower.
- Investors appear nervous before the fourth-quarter results. The effect of corona can be seen during the fourth trimester after good results from two consecutive trimesters. So investors are cautious before investing.
Banking stocks fall by up to 13%
Banking sector stocks are at the forefront of the decline in the stock market today. The Nifty Bank Index fell 1,733 points, or 5.3%, to 30,714. Shares of RBL Bank are trading below 13%. Shares of state-owned banks fell by 10%, while those of private banks fell by 6%. The main reason for the decline in banking stocks is a lockdown. Because it is affecting the banking business.
Impact of the lockdown on the market
seen a sharp decline in auto and mater stocks. Both indices have fallen 5% on the NSE. Pharma stocks have also continued to decline. Lockdowns have been imposed at various places in many states to prevent the transmission of the corona. This can have a detrimental effect on economic equities.
2,339 stocks fall on the exchange
2,922 stocks are trading on the BSE. 416 stocks are trading higher and 2,339 stocks are trading lower. The market for companies listed on the exchange has reached Rs 201.31 lakh crore. 209.63 lakh crore on Friday. Accordingly, the market cap has declined by Rs 8.32 lakh crore.
The market also declined in the first wave. The market has been declining since
March 23 last year due to Corona. The Sensex then hit a low of 25,800. However, she recovered from there and crossed the 52,500 level on February 16 this year. However, the stock market has seen a decline over the past few days due to a record-breaking rise in Corona’s new case. The lowest level of the day was seen at 47,779 during trading today.
The stock market opened with a sharp decline on the first day of trading on Monday. However, the Sensex declined in the first few minutes of trading. Shares of RBL, IOB, Punjab Sindh Bank are down about 10%. According to experts, the stock market has seen a significant decline due to fears of another lockdown in the country.
The Sensex was down 154 points at 49,591 on Friday, while the Nifty was down 39 points at 14,834. Shares of most banking and metal sectors were the biggest losers in the market.
A decline in Asian stock markets
- Hong Kong’s Hang Seng Index fell 373 points to close at 28,305.
- China’s Shanghai Composite Index also fell 24 points to close at 3,425.
- Korea’s Kospi index closed at 3,130 with a slight decrease of 1 point.
- Australia’s All Ordinary Index fell 37 points to 7,214.
- Japan’s Nikkei index closed 172 points lower at 29,596.
American Markets Rise American markets saw a rebound
on Friday. The Dow Jones rose 0.89% to close at 33,800.60 at 297.03 points. The Nasdaq closed 0.51% higher at 13,900.20, up 70.88 points. The S&P 500 index also gained 31.63 points to close at 4,128.80. Markets in France and Germany also rose.