Share Market Update: There is an outcry in the Indian stock market on the first trading day of the week. Due to disappointing signals from global markets, investors started heavy selling as soon as the market opened on Monday morning, due to which major indices went into the red.
As per the data at 9:18 am, the Sensex was trading at 74,422 with a weakness of 851 points (1.08%). Similarly, Nifty also fell by 246 points (1.04%) to 23,392. This decline in the market is so widespread that sectors like Nifty Consumer Durables and Nifty Realty were the biggest losers. Apart from this, indices like Auto, Financial Services and PSU Bank are also trading in the red.
Bad condition of smallcap and midcap
Along with big stocks, tremendous selling pressure is being seen in small and medium stocks too. Nifty Smallcap 100 index opened with a fall of 1.38 percent and Nifty Midcap 100 index fell by 1.14 percent. Among Sensex stocks, majors like Power Grid, Tata Steel, Maruti Suzuki and HDFC Bank were among the losers, while IT sector companies like Infosys and TCS saw marginal gains.
FII and DII figures
Talking about the attitude of investors, on Friday, foreign institutional investors (FIIs) had made net purchases of Rs 1,329.17 crore in the market, but domestic institutional investors (DIIs) had increased the pressure on the market by selling Rs 1,958.82 crore. Looking at the current circumstances, experts believe that until global tensions subside, market instability may persist.
Crude oil prices ‘fire’
Crude oil prices are increasing rapidly in the international market. The price of Brent crude has increased by 1.79 percent to reach $ 111 per barrel, while WTI crude is also touching the level of $ 103 per barrel with an increase of 2.17 percent. This situation is worrisome for India because due to costlier crude oil, there is a danger of increasing trade deficit and putting pressure on inflation.
Condition of global markets and bond yields
Not only India, but most of the Asian markets like Tokyo, Shanghai, Hong Kong and Jakarta are also trading in the red. Earlier, American markets also closed with a decline on Friday. Apart from this, the 10-year bond interest rate in America reaching 4.63 percent has also become a major reason for selling in the global markets.
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