Categories: Business

Sensex nosedives over 1,500 points; Nifty tanks below 9,500. Sensex opened with a downward trend of over 1500 points

Sensex nosedives over 1,500 points; Nifty tanks below 9,500

Mumbai. The stock markets started with a downward trend on Monday. The Sensex opened more than 1,500 points due to heavy selling, while the Nifty remained below 9,500 points. The BSE Sensex fell 1,513.68 points, or 4.49 percent, to 32,203.94 points, while the National Stock Exchange's Nifty is trading at 9,434.20 points, down 425.70 points, or 4.32 percent. The rupee opened 64 paise lower at 75.73 against the dollar in early trade.

ICICI Bank was the biggest loser. It fell to eight percent. IndusInd Bank, Tata Steel, Bajaj Finance, Tech Mahindra, HDFC and HDFC Bank also saw weakness. Reliance Industries shares also fell by one percent. On Thursday, the company released its quarterly results. The company's profit fell by 37 percent in the January-March quarter. Meanwhile, on Monday morning news of Silver Lake's 1.15 percent stake in Reliance's Jio Platforms came up. One of the world's largest technology investors will invest Rs 5,655.75 crore in Silver Lake Jio Platforms.

Sun Pharma is the only running stock in the Sensex included. The Sensex closed at 33,717.62 points and the Nifty closed at 9,859.90 in the previous session. Stock markets remained closed on Friday due to Maharashtra Day. According to brokers, the sell-off in Asian markets also had a domestic impact. Markets in Hong Kong and Seoul remain low. The markets of Shanghai and Tokyo are closed due to the holiday. Apart from this, domestic economic activities are closed due to increasing lockdown period in the country. Corporate income is being affected by this. This also opened the market down. The government extended the lockdown to 17 May on Friday. According to preliminary data, foreign portfolio investors bought Rs 1,968.80 crore on Thursday. Meanwhile, Brent crude oil remained at the previous level of $ 26.41 per barrel. The death toll from the corona virus in the country has reached 1,373.

This post was published on May 4, 2020 1:28 pm

Content Team

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