Categories: Business

Stock market fall on weak domestic cues


Stock market today

new Delhi. The domestic stock markets closed with a sharp decline in the first trading session of the week. The market has witnessed pressure due to the rise in the number of Corona patients in the country, a 2-week increase in lockdown, limited relaxation in business activities and lower than expected economic package. At the same time, investors are also scared of the possibility of increasing trade war between America and China. In today's trade, the Sensex is down 1069 points at 30,029 and the Nifty is down 314 points at 8823. Banking sector has suffered the most in today's business.

The number of corona-infected cases in India has reached a psychological level of 1 lakh. It has seen a sharp rise during the last 5 days. Lockdown has increased again in the same country. The relaxation of rules is limited, so the pressure on companies has increased. Along with this, the market has not been particularly affected by the economic package. For all these reasons, the stock market has seen a decline.

Banking and financial services companies have seen the biggest decline in today's business. The indices of both the sectors closed down by 6.6 per cent. The auto sector index closed down 5.63 per cent and the realty sector index declined by 5.28 per cent. The metal sector index has fallen more than 4 percent. At the same time, the power sector closed with a decline of over 3 percent. The FMCG sector index has fallen by about 1 per cent. On the other hand, the IT sector index closed 0.61 percent down and the pharma sector index closed up 0.09 percent.

The 44 Nifty stocks closed with a fall. Out of this, the decline in 21 stocks has been more than 5%. At the same time, IndusInd Bank has been the biggest loser Nifty share with a decline of 9.62 per cent. On the other hand, Cipla was the leading Nifty stock with a gain of 5.5 per cent.

This post was published on May 18, 2020 4:53 pm

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