Stock market fell with a bang as soon as it opened
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Share Market Opening: A big decline has been seen in the Indian stock market today. As soon as the market opened, it fell sharply. Today, profit booking seems to be dominating both Sensex and Nifty indices. At 09.30 am, Sensex was trading at 72,994.09, falling 0.20 per cent or 148.70 points. Whereas, Nifty fell by 0.14 i.e. 30.85 points and was trading at 22,181.85. Shares of 12 companies on the 30-share Sensex are trading in profit. Whereas, shares of 18 companies are red. Today, shares of Power Grid, SBI, Mahindra & Mahindra, L&T, Tata Motors and Bajaj Finserv have joined the category of top gainers on Sensex. Whereas, shares of Asian Paints, Titan, Tech Mahindra, Infosys, Wipro and TCS are included in the category of top losers.
Read Also: Fine imposed on IOC, GAIL, ONGC for the third time in a year, action will be seen in the stock market today
What was the situation in pre-opening
Share Market In the pre-opening on the first trading day of the week, the Sensex slipped by about 250 points to reach 72,900. Whereas, Nifty also fell by 60 points to the level of 22,150. The biggest decline is being seen in IT shares. The IT index on Nifty was trading at 37,716.40, down 0.87 percent or 329.25 points. Apart from this, decline is being seen in FMCG, metal, private bank, reality and oil and gas sectors. Whereas, banks, auto, pharma and PSU banks are showing growth.
What do experts say
Analysts said that crude oil prices, movement of rupee, quarterly gross domestic product (GDP) growth data to be released in India as well as the US and monthly manufacturing PMI data in the coming week will influence the market sentiment. Shrikant Chauhan, head of equity research at Kotak Securities, said that on the economy front, almost all MPC members have continued to maintain a cautious stance given the uncertainties over the inflation outlook. There will be six IPOs worth more than Rs 3,300 crore in the stock market this week. These include IPOs of Platinum Industries and Exicom Tele Systems.
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