The Sensex-Nifty closed at a red mark on Wednesday, the third trading day of the week, due to falling global markets and investor concerns over the country’s corona crisis. The Bombay Stock Exchange benchmark Sensex lost 871.13 points, or 1.74 per cent, to close at 49180.31. The Nifty on the National Stock Exchange fell 265.35 points, or 1.79 percent, to close at 14,549.40. Last week, the BSE 30-share index fell 933.84 points, or 1.83 percent. Today, 50 days later, the Sensex touched 49200 during trading today.
The main reason for the fall
Coronavirus Destroyer – Investors are concerned about the coronavirus disaster across the country. Corona infection is out of control again after coming under control. In many states, including Maharashtra, Gujarat, and Madhya Pradesh, the situation is grim, with lockouts again. Today, more than 47,000 new corona patients have been found in the country. Of these, 77.44 per cent patients come from these five states of the country – Maharashtra, Punjab, Karnataka, Chhattisgarh and Gujarat. Maharashtra on Wednesday recorded 28,699 new cases of Kovid. 50 days later, the Sensex touched 49200 during today’s trade.
Global markets are declining – Speaking of global markets, Hong Kong’s Hang Seng Index fell 595 points, or 2.09 percent, to 27,902. China’s Shanghai Composite traded down 36 points at 3,333. Japan’s Nikkei index traded down 543 points at 28,452. Korea’s Kospi index fell 16 points, Australia’s All Ordinary rose 25 points. The Nasdaq index rose 1.12 percent to 13,277 points as investors looked at the possibility of new taxes and infra-spending in the US stock market. The Dow Jones fell 308 points to 32,423.
The same was true of older stocks
Speaking of large stocks, shares of all companies except Power Grid, Cipla and Asian Paints closed in the red. Leading Grover stocks include Tata Steel, Tata Motors, Adani Ports, Hindalco and M&M.
Sectoral indicator tracking
If we look at the sectoral indicator, today all sectors except pharma are off the red mark. These include FMCG, Metal, Media, IT, Realty, Auto, PSU Bank, Finance Services, Private Banks and Banks.
The market was open in red
The Sensex fell 302.03 points, or 0.60 percent, to 49,749.41. The Nifty opened at 87,30 points, or 0.59 percent, at 14,727.50. At 2.32 pm, the Sensex fell 574.29 points (1.15 percent) to 49,477.15. At the same time, the Nifty is trading at 14,648.75, down 166 points or 1.12 percent.
The stock market closed higher on Tuesday
The market closed at the green mark on Tuesday and banking shares were bought. The Sensex gained 280.15 points, or 0.56 percent, to close at 50051.44. At the same time, the Nifty closed at 14814.75, up .38.35 points or 0.53 percent.