Today, on the second trading day of the week i.e. Wednesday, after the day’s ups and downs, the stock market fell sharply and closed on the red mark. The Bombay Stock Exchange’s major index Sensex closed down 937.66 points, or 1.94 per cent, at a level of 47409.93. At the same time, the National Stock Exchange’s Nifty fell by 271.40 points (1.91 per cent) to close at the level of 13967.50. Stock markets were closed on Tuesday on the occasion of 72nd Republic Day.
Talking about global markets, on Wednesday, flat business is being recorded in worldwide markets. Among Asian markets, Japan’s Nikkei index is trading up 0.24 percent and Hong Kong’s Hangseng index is up 0.02 percent. On the other hand, China’s Shanghai Composite Index is 0.07 per cent, Korea’s Kospi Index is 0.01 per cent and Australian stock market is also trading flat. Earlier, there was a slowdown in the American markets.
The 30-share BSE Sensex was down 156.13 points or 0.31 per cent in the previous week. The stock markets may fluctuate this week between the settlement of monthly derivative contracts before the general budget and the quarterly results of companies. Experts have expressed this opinion. Siddharth Khemka, head of retail research, Motilal Oswal Financial Services Ltd, said, “The market may see an upheaval in the coming days before the Union Budget and monthly deals expire.” Quarterly results of companies will also increase market volatility. The Federal Reserve’s monetary policy is also going to be announced this week.
The BSE Sensex crossed the 50,000 mark for the first time last week. Analysts said that now all eyes are on the budget of 2021-22. The budget will provide direction for further journey of Sensex. The market witnessed a lot of ups and downs in the last year between the corona virus epidemic. The 30-share BSE Sensex hit a one-year low of 25,638.9 on March 24. However, the Sensex went to record levels during the year ahead.
Talking about the big stocks, today the shares of Tech Mahindra, UltraTech Cement, ITC, Wipro and SBI Life closed on the green mark. Tata Motors, Tata Steel, Titan, Hindalco and IndusInd Bank closed at the red mark.
Today, the Sensex opened with a loss of 280.96 points (0.58 per cent) at 48,066.63 in early trade. At the same time, the Nifty was down 81 points, or 0.57 per cent, at 14,157.90. But after noon the market saw heavy selling. If we look at the sectoral index, today all sectors except FMCG closed on the red mark. These include pharma, metals, finance services and bank autos, IT, PSU banks, media, private banks and realty.
The stock market closed on the red mark on Monday after day-long fluctuations. The Sensex closed at the level of 48347.59 with a steep fall of 530.95 points, or 1.09 per cent. The Nifty was down 133 points (0.93 per cent) to close at 14238.90.