In the midst of selling by the FIIs and disappointing global cues, the fact that both domestic stock benchmark indices, namely the Sensex and Nifty, opened in red has not changed the theme of extending previous day’s decline on Tuesday. The indices were not only opened to red; they plunged sharply in a 20-minute time frame with over 0.5% down. The BSE Sensex was at 72,881.44, down by 204.50 points at around 9.39 a.m.Nifty50 nosedived 72.65 points or 0.33 percent against compared with the previous day’s closing price.
The NSE index, Nifty50, was off to a weak opening at 21,974.45, which compares exponentially lower to the last session’s 22,119.30. However, the index of the top 30 stocks operating at BSE-Sensex commenced trading at 72,343.43, with a 300-point drop compared with the previous day’s closing 73,085.94. During this trading day, both indices hit their intraday lows of 21,964.60 and 72,633.54, respectively.
The stock market fell sharply all over the world after U.S. President Donald Trump said he would go ahead with plans to impose tariffs on Mexico and Canada. That comment fed fears of a trade war in North America and sent financial markets into turmoil. U.S. stocks fell sharply through afternoon trade.
However, data from the stock market showed that FPIs/FIIs sold shares worth Rs14,634.62 crore in the Indian stock market. They also infused Rs9,846.33 crore in the domestic market.
Among the losers are Nestle India, Tech Mahindra, Titan, Bharti Airtel, HCL Technologies, Asian Paints, Infosys, NTPC, Bajaj Finserv, and Sun Pharmaceuticals- all in red.
The top gainers: Banking stocks such as SBI, IndusInd, ICICI Bank are seen raising the green. Other gainers are Zomato, Power Grid, Tata Motors, TCS, Mahindra & Mahindra, and Adani Ports.
Global Market
Asian markets turned lower, except for Shanghai and Seoul, which remained steady as a follow-up to the battering of the American stock market. Global oil benchmark Brent.
