The stock market disappoints before budget 2021, Sensex plunges 588 points, Nifty also falls

The stock market disappoints before budget 2021, Sensex plunges 588 points, Nifty also falls

The stock market has been closing on the red mark for the last several days. Today the stock market opened in early trading on the edge. But after the day’s ups and downs, the stock market again declined and it closed on the red mark. Finance Minister Nirmala Sitharaman presented an economic survey in Parliament today, which did not excite investors and led to a sell-off in the market. The Bombay Stock Exchange’s flagship index Sensex closed down 588.59 points, or 1.26 percent, at a level of 46285.77. At the same time, the National Stock Exchange’s Nifty lost 182.95 points (1.32 percent) to close at the level of 13634.60.

Market fluctuations before the budget

The Sensex reached 50,184 on January 21. The 30-share BSE Sensex was down 156.13 points or 0.31 percent in the previous week. The stock markets fluctuated in the week between the settlement of the monthly derivative contract before the general budget and the quarterly results of the companies.

According to government data, during April-November last year, Foreign Direct Investment (FDI) investment stood at $ 58.37 billion, which is 22 percent higher than the $ 47.67 billion invested in the same period last year. This figure is the highest for eight months of FDI. FDI in the stock market during the same period stood at $ 43.85 billion, up 37 percent over the previous year.

Investors are on the budget

Analysts said that now all eyes are on the budget of 2021-22. The budget will provide direction for the further journey of Sensex. The market witnessed a lot of ups and downs in the last year between the coronavirus 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.

Selling in Asian markets as well

Global markets also fell on Friday. China’s Shanghai Composite closed down 0.63 percent, Australia’s All Ordinaries 0.68 percent, Hong Kong’s Hang Seng 0.82 percent. The Nikkei index closed down 1.91 percent and Korea’s Kospi index closed 3.03 percent.

Such was the situation of veteran shares

Talking about the big stocks, today the shares of Idesind Bank, Sun Pharma, ICICI Bank, HDFC Bank, and HDFC Life closed on the green mark. On the other hand, shares of Maruti, Dr. Reddy, Hero MotoCorp, Tata Steel, and Bharti Airtel closed on the red mark.

Sectoral index tracking

If we look at the sectoral index, today, apart from banks, private banks, PSU banks, and realty, all sectors closed on the red mark. These include pharma, metals, FMCG, financial services, auto, IT, and media.

IRFC IPO listed

Today, the shares of state-run Indian Railway Finance Corporation (IRFC) were listed on the NSE at Rs 24.90 with a four percent discount. On the BSE, it was listed at Rs 25. The IPO of IRFC was opened from January 18 to January 20. These IPOs were filled nearly three and a half times.

The market was open on the edge

Today, the Sensex opened 343.50 points (0.73 percent) higher at 47,217.86 in early trade. At the same time, the Nifty opened with a gain of 102.90 points, or 0.74 percent, at 13,920.40.

The market was closed on Thursday on a heavy downpour

The stock market closed on the red mark on Thursday after day-long fluctuations. The Sensex had ended at a level of 46874.36, a drop of 535.57 points, or 1.13 percent. For the first time this year, the index closed below the 47000 levels. The Nifty was down 149.95 points (1.07 percent) to close at 13817.55.

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