Categories: Business

Stock market fall on negative global cues

Photo: GOOGLE

Stock market today

new Delhi. Given the signs of decline in the European market, the domestic stock market recorded a sharp decline in the last trading session of the week. During the trading, the Sensex saw a fall of up to 900 points from its upper levels. On Friday, the Sensex lost 433 points to close at 37,877. At the same time, the Nifty lost 122 points to close at the level of 11,178. The biggest decline in today's business was seen in the auto and banking sector.

The decline in foreign markets was due to weaker economic data than expected by China and the anticipated delay in the relief package in the US. While China's industrial production grew at a slower pace than anticipated, retail sales registered an unprecedented drop. This indicated that domestic demand has still not recovered from the Corona crisis. Along with this, Hong Kong's second quarter GDP has fallen by 9% over the previous year. Given these signs, selling was seen in foreign markets. At the close of the domestic market, the markets of England and France saw a decline of more than 2 per cent, while DAX in Germany fell by 1.27 per cent. The Asian markets showed signs, after the sharp ups and downs, the Chinese market closed with a gain of over 1 per cent, while Japan's Nikkei managed to close with a slight lead. Hong Kong's Hangseng recorded a slight decline.

The auto sector has seen the biggest decline in today's business, with the index closing down 2.7 percent. The index of public sector banks declined by 2.46 percent. The entire banking index closed down over 2 per cent. The financial services sector closed down by 1.95 per cent, the FMCG sector by 1.2 per cent and the realty sector by 1.03 per cent. The pharma sector recorded a growth of 1.45 per cent and the metal sector by 0.9 per cent.

This post was published on August 14, 2020 4:38 pm

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