Amid turmoil in Latin America, a decline was seen in Indian stock market indices. On Tuesday, January 6, both indices were downward from the morning. After a full day of trading, the Sensex fell 376.28 points to stand at 85063.34 points. The Nifty 50 index dropped 71.60 points to stand at 26178.70 points. On this day, stocks like Reliance Industries, HDFC Bank, and Trent suffered major hits.
According to media reports, Vinod Nair, Research Head of Geojit Investment Limited, said that there has been a correction in the stock prices of several domestic companies in the country's market, especially large-cap companies. Selling pressure was seen in stocks of companies like Reliance Industries and HDFC Bank.
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Why did the stock market get hit?
According to Vinod Nair, the atmosphere of uncertainty created due to the US-Venezuela conflict has impacted the market. Besides, various issues related to Russian oil imports and concerns about third-quarter results have hit the market, in his opinion.
However, several companies gave profits in the day's market as well. ICICI Bank rose 2.8 per cent on this day, along with increases in stock prices of Hindustan Unilever, Sun Pharmaceuticals, and State Bank of India. TCS prices also rose.
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Trent's stock was hit hard. This stock's price fell 8.62%. Reliance Industries' stock price was also hit. ITC and Kotak Mahindra Bank shares fell. Experts said that while profit booking was seen in most sectors, momentum was seen in pharma, banking and IT sectors. He believes the stock market will move within a specific margin in the coming days.
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