The stock market plunged sharply on the last trading day of the week today. Global stock markets exploded due to heavy sales in the US markets, which also affected the domestic stock market. The Bombay Stock Exchange’s flagship index, the Sensex, fell by 1999.32 points, or 3.60 per cent, to 4,999.99. At the same time, the Nifty on the National Stock Exchange closed 586.20 points or 3.7676 percent lower at 154529.15. In fact, in the United States, key indices have closed due to rising bond yields and selling in technical stocks. The market today witnessed the biggest decline of the year due to strong selling pressure.
Huge decline in global stock markets
Global stock markets declined as heavy sales in the US market. The Nasdaq index was down 478 points at 13,119 and the Dow Jones was down 559 points. Japan’s Nikkei index fell 737 points to 29,430. Hong Kong’s Hang Seng Index traded down 771 points at 29,303. China’s Shanghai Composite Index, Korea’s Kospi and Australia’s All Ordinary Index fell two per cent.
The same was true of older stocks
Talking about big stocks, all the stocks have closed in red today. Top losers include ONGC, M&M, Power Grid, JSW Steel and Hero MotoCorp.
Sectoral indicator tracking
If we look at the sectoral indicator, all sectors are closed in red. These include Finance Services, FMCGIT, PSU Bank, Bank, Pharma, Private Bank, Metal, Auto, Media and Realty.
GDP figures will be announced today
GDP figures for the third quarter of the current fiscal (October-December quarter) will be announced today. The first two quarters of the epidemic and related lockdowns saw a sharp drop in GDP. The country’s GDP fell 23.9 percent in the first quarter and 7.5 percent in the second quarter.
The market was open due to heavy rains
In early trade, the Sensex opened 917.24 points (1.80 percent) lower at 50122.07. At the same time, the Nifty opened 267.80 points or 1.77 percent lower at 14829.60. At 12.44 pm, the BSE Sensex was trading at 49372.77 with a sharp fall of 1666666.55 points. With this, NSE Nifty decreased by 468.95 points and stood at 14628.40.
The market was sharply closed on Thursday
On Thursday, the domestic stock market closed at the edge after a one-day rise and fall. The Sensex rose 257.62 points, or 0.51 percent, to 51039.31. At the same time, the Nifty rose 110.35 points, or 0.7777 percent, to close at 15097.35.