Stock Market: Due to corona and lockdown, the market is witnessing a steep decline on Monday. In the initial period itself, the Sensex fell 1700 points to below 48 thousand. This sank 9 lakh crores of investors. Earlier on February 1, the index came down to 48 thousand.
The Sensex opened 634.67 points down at 48,956.65 on Monday morning. It is now trading at 47,885 with a steep fall of 1,705 points. The Nifty has also fallen by 513 points to 14,321.
What causes the stock market to fall.
- New cases of corona are increasing in the country. In the last 24 hours, one lakh 69 thousand 914 cases were reported. This is the largest number of day-to-day infections in the country.
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There is a decline in Asian stock markets. These include Shanghai Composite of China, Hong Kong of Hong Kong. Similarly, Japan’s Nikkei index is also trading with a decline.
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Investors are nervous before the fourth quarter results. Corona may see an impact during the fourth quarter after good results in two consecutive quarters, so investors are cautious before investing.
Banking shares fall by up to 13%
The banking sector shares are at the forefront in today’s steep decline. The Nifty Bank index is down 1,733 points, or 5.3%, to 30,714. RBL Bank stock is trading down 13%. Shares of private banks have fallen by as much as 6%, while shares of public sector banks have fallen by 10%. The main reason for the decline in banking shares is the lockdown, as it is impacting the banking business.
The effect of the lockdown on the market
There is also a sharp decline in auto and metal stocks. Both indices on the NSE are down 5%. However, pharma stocks have maintained their lead. Lockdown is being put in place in many states to prevent corona infection. This is affecting the economic activities.
2,339 shares fall on the exchange.
The BSE is traded in 2,922 shares. It is trading with a gain of 416 shares and 2,339 shares. The market of listed companies on the exchange has increased to Rs 201.31 lakh crore, which was Rs 209.63 lakh crore on Friday. In this sense, the market cap has been reduced by Rs 8.32 lakh crore.
Foreign investors withdraw Rs 929 crore from domestic market
According to the depository data, during April 1-9, foreign investors ie FIIs have withdrawn Rs 740 crore from domestic market and Rs 189 crore from debt or bond market. The Indian stock market has been heavily invested by foreign investors for the past few months, but rising new cases of Corona have raised concerns. With this, investors are now investing in other emerging markets, including South Korea and Taiwan.
Decline in the stock markets around the world
Hong Kong’s Hangseng index is trading down 266 points at 28,412.
China’s Shanghai Composite Index also fell 33 points to 3,417.
Korea’s Kospi index has a slight gain of 2 points, with the index peaking at 3,134.
Australia’s All Ordinaries Index dropped 27 points to 7,225.
Japan’s Nikkei index is trading down 215 points at 29,553.
Growth in US markets
On Friday, the US market saw a boom. The Dow Jones gained 0.89% to close 297.03 points at 33,800.60. The Nasdaq gained 0.51% to close 70.88 points at 13,900.20. The S&P 500 index also closed 31.63 points up at 4,128.80. Similarly, the markets of France and Germany also grew.
FII and DII data
According to provisional data on the NSE, on April 9, foreign institutional investors (FIIs) bought shares worth Rs 653.51 crore and domestic institutional investors (DIIs) bought shares worth Rs 271.26 crore.
09:15 AM Sensex is trading down 905.36 points at 48,685.96 and Nifty is down 247.30 points at 14,587.55.
09:23 AM BSE has a fall in 31 out of 32 indices. Only SME IPO has gained.
09:30 AM There is a decline in all 23 sectors of BSE.
09:35 AM RBL Bank Ltd. shares are down about 10%. Also, the shares of Indian Overseas Bank and Punjab Sindh Bank are also down by 10%.
09:40 AM Sensex is trading down 1357.87 points at 48,233.45 and Nifty is down 407.50 points at 14,427.35.
09:42 AM Shares of all the 12 banks included in the BSE private bank sector are down.
09:45 AM Shares of all the 13 companies involved in the BSE telecom sector are in decline. MTNL shares are the biggest losers by around 8%.
09:55 AM BSE’s market cap has reached 203 lakh crores. It was 209 lakh crores on Friday. During the trading till date, 1946 stocks out of 2455 companies have fallen.
10:12 AM The stocks of all 15 companies involve in the BSE auto sector are down. Ashok Leyland has the biggest fall of 5.48%.
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