Big fall in the stock market for the second consecutive day, Sensex fell by 500 points due to sell-off

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Sensex - India TV Paisa
Photo:PTI

Sensex

Highlights

  • 1000 points fall in two days due to selling in BSE Sensex
  • NSE Nifty also broke the important level of 18000 due to profit-booking
  • Market experts are anticipating that the fall in the market will continue even further.

Mumbai. Selling dominated the Indian stock market for the second consecutive day on Wednesday amid a weak trend in global markets and continued decline in IT and banking stocks. With the opening of the market, the Sensex fell by 200 points and by 11 o’clock it was down by about 500 points. Till writing the news, the Sensex was trading at 60,260.59, down 494.27 points. Similarly, Nifty was also trading at 17,988.55, breaking the important level of 18 thousand, breaking 124.50 points.

Shares of IT companies fall

In line with the global trend of falling stocks in technology sector, Sensex fell 1.7 per cent in Infosys. Apart from this, Wipro fell 1.41 per cent, Tech Mahindra 1.07 per cent, TCS 0.77 per cent and HCL Tech 1.09 per cent. Bank stocks also fell. Shares of IndusInd Bank fell 1.33 per cent while that of HDFC fell 0.8 per cent. On the other hand, Maruti Suzuki and M&M’s shares gained one per cent. Shares of Bajaj Finance gained 3.34 per cent and Bajaj Finserv gained over one per cent. Shares of Tata Steel, Reliance Industries, Power Grid and Titan ended in gains, limiting the fall in the Sensex. Foreign institutional investors were net sellers in the capital market on Tuesday, selling shares worth Rs 1,254.95 crore, according to stock market data.

The decline is likely to continue

Market experts say that the downward trend in the Indian stock market including the world is likely to continue. The risk of inflation due to rising crude oil prices and the geographical event cycle is the main reason for this. In such a situation, small investors should invest wisely.

Rupee continues to fall

The rupee fell by 12 paise to 74.70 against the US dollar in early trade. The trend of depreciation in the rupee has also continued for the past few days.

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