Share Market Live Updates: The stock market started today with a huge drop. Within minutes, the Sensex fell by more than 800 points. Nifty was also down around 200 points. No stock was on the green mark on the Sensex. The BSE Sensitive Index Sensex lost 540.3 points to open at 58,254.79.
why the fall
The impact of the fall in Asian markets is also visible on the domestic market. If you look at the trading of Japan’s Nikkei, Singapore’s Strait Times, Hong Kong’s Hang Seng and Taiwan, all are seen trading in the red mark.
On Thursday, the Sensex had jumped 454 points on the basis of Reliance
There was a strong rally in the stock markets on Thursday and the BSE Sensex closed with a jump of 454 points. Markets surged with gains in index firm Reliance Industries amid a positive trend in global markets. The 30-share Sensex closed at 58,795.09, up 454.10 points, or 0.78 per cent. Similarly, the National Stock Exchange’s Nifty jumped 121.20 points, or 0.70 per cent, to end at 17,536.25.
Reliance Industries was the top gainer in the Sensex shares, rising over six per cent. Apart from this, ITC, Infosys, Tech Mahindra, Titan, Bharti Airtel and Power Grid were also the main gainers. On the other hand, the losers included Maruti, ICICI Bank, IndusInd Bank, HUL and L&T.
Narendra Solanki, Head of Equity Research (Fundamentals), Anand Rathi Firm said opening in the domestic market was mixed. The reason for this was the increase in the interest rate of the Bank of South Korea with the increasing cases of Kovid-19 in Europe. He said, the market recovered in the afternoon trade. Moody’s estimates of India’s economic growth to remain strong had a positive impact on the market. The rating agency has projected a growth rate of 9.3 percent in the financial year 2021-2 and 7.9 percent in 2022-23.