The stock market has taken a huge plunge before the budget. Sensex is not able to rise. The ongoing fall in Nifty is ruining the investors. The speed at which foreign investors have started selling in the stock market, the Sensex is continuously sinking. The downtrend in the market continued on Monday as well.
Share Market: Before the budget, the stock market has taken a huge plunge. Sensex is unable to rise. The ongoing fall in Nifty is making investors bankrupt. The speed at which the selling of foreign investors has dominated the stock market, the Sensex is continuously sinking. The decline in the market continued on Monday as well. The market crashed as soon as it opened. Sensex fell by 800 points.
Sensex crashes, investors worried
On Monday, while the Sensex fell by 800 points, the Nifty took a dive of more than 250 points. With this ongoing decline in the market, the Sensex fell below 75,434 points. The Sensex opened with a fall of 490 points at 75,700.43. By 11 am, this maximum decline reached 842 points. While the Nifty also started with a fall of about 150 points and a maximum fall of 265 points was recorded. At 11 am, it fell by 238 points to reach 22,854 points.
Loss of 9 lakh crores
Due to this fall in the stock market, investors lost more than 9 lakh crore rupees. The market cap of all the companies listed on BSE fell to Rs 410.03 lakh crores. The stock market is falling due to continuous selling by foreign investors. FPIs sold shares worth Rs 64,156 crore till 24th January. At the same time, the quarterly results of the companies have added fuel to the fire. The market is suffocating due to weak corporate income, US trade policies and continuous withdrawal of foreign investors.
Stock market scared by Trump’s policies
Donald Trump has threatened to increase tariffs on many countries including India after assuming the throne of US President. While he warned of imposing 100 percent tariff on BRICS countries, he ordered to impose 25 percent tariff on Canada and Mexico. Now US President Donald Trump has announced a 25 percent tariff on items imported from Colombia. This tariff decision has created a state of fear among investors. Investors are adopting a cautious policy.
Market had a bad start
Amid the slowdown in the global market, domestic markets Sensex and Nifty declined in early trade on Monday. Continuous withdrawal of foreign capital also increased the decline in the market. The BSE Sensex fell 343 points or 0.45 percent to 75,847.46 points in early trade. NSE Nifty slipped 108.95 points or 0.47 percent to 22,983.25 points.
These stocks suffered losses
Shares of Zomato, HCL Technologies, PowerGrid, Tata Motors, Adani Ports, Reliance Industries, IndusInd Bank, Infosys, Tata Consultancy Services and HDFC Bank suffered the most losses. Shares of ICICI Bank, Hindustan Unilever, Larsen & Toubro, Nestle India, State Bank of India, ITC and Asian Paints gained.
