Just like the first trading day of the week, the second day also saw a major blow. On Monday, the Sensex had fallen around 1,300 points, and on Tuesday, even before 11 AM, the BSE Sensex dropped by more than 800 points. The Nifty 50 index fell by more than 200 points. The Bank Nifty index also took a hit, with that index seeing a decline of nearly 500 points.
Experts say that due to no improvement in the war situation in West Asia, its impact is being felt on India's stock market. This situation is being seen in India due to continuous foreign investment outflows and overall global market turmoil.
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So far, most sectors on the NSE have been hit. However, gains have been seen in the metal, oil and gas sectors. The PSU bank sector is also in good shape. Major indices like Nifty Next 50 and Nifty Midcap 100 have also taken big hits.
So far, good returns have been seen in ONGC, Hindustan Zinc, Vedanta, Hindalco, Pidilite Industries, and Tata Steel. Multiple IT stocks have taken major hits, with TCS, Infosys, HCL Tech, and Tech Mahindra on that list. Prices have fallen for Adani Power and LTM.
Why is India's stock market falling?
There is no improvement in the war situation between America and Iran. Although there is a temporary ceasefire, hopes for permanent peace are not yet visible.
Oil prices have seen unbridled increases. Brent crude is priced at over $100. As a result, pressure has been created in the domestic market.
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The rupee has seen continuous decline in value. Especially in the past year, the Indian currency has hit record lows against the dollar.
Foreign investment is continuously leaving India's market. FPIs or Foreign Portfolio Investors are selling rupees and exiting.
{News Ei Samay does not provide investment advice anywhere. Investment and trading in the share market or any field involve risk. Proper study and expert advice are recommended beforehand. This news is published for educational and awareness purposes.}
