- Domestic stock market remains under pressure
- Bigger fall than the sell-off of foreign investors
- Keep small investors away from the market now
New Delhi. Major stock indices Sensex tumbled over 900 points in early trade on Tuesday led by losses in major stocks like Wipro, RIL and HDFC Bank amid a weak trend in Asian markets. However, later the market recovered and Sensex managed to return to the green mark for some time. But, once again the negative sentiment has pushed the market into the red mark. By 11.30 pm, the Sensex was trading at 57199, down 290 points. At the same time, Nifty was also trading at 17081 points down 68 points.
Market scared of Fed’s decision
According to traders, selling by foreign investors and news of the US Federal Reserve tightening monetary policy also kept pressure on the domestic stock market. The Sensex opened at 56,586.35, down 905. 16 points or 1.57 per cent in early trade. Similarly, Nifty fell 253.80 points or 1.48 per cent to 16,895.
Was open at 30. Asian Paints was the biggest loser in the Sensex at 4.38 per cent. Apart from this, Wipro, Tech Mahindra, L&T, Reliance Industries and HDFC Bank were also among the major losers. On the other hand, Axis Bank, Bharti Airtel and PowerGrid were in the green.
There was a big drop in the last session
In the previous session, the Sensex was down 1,545.67 points or 2.62 per cent at 57,491.51, while the NSE Nifty was down 468.05 points or 2.66 per cent at 17,149.10. Investors lost Rs 9 lakh crore in a day due to a major fall in the market.
Global market fall
In other Asian markets, shares in Hong Kong, Seoul, Shanghai and Tokyo were trading with losses in mid-session deals. The growing geopolitical uncertainty over the confrontation between Russia and Ukraine was also seen on the stock market. Meanwhile, international oil benchmark Brent crude rose 0.85 percent to $ 87.00 per barrel. Foreign institutional investors (FIIs) sold shares worth Rs 3,751.58 crore on a gross basis on Monday, according to provisional data from the stock market.
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