Stock Market Update: On Friday, the domestic stock market started trading with a red mark under the weak trend of the US market and selling pressure. This is the third consecutive day when the stock market is witnessing a fall. At the beginning of the trading session, the major indices Sensex and Nifty opened by falling. The 30-share BSE Sensex started trading at 59,585.72 points down 348.29 points.
At the same time, the 50-point National Stock Exchange’s Nifty also broke more than 80 points and started trading at 17,796.80 points.
At the beginning of the trading session, 22 out of 30 Sensex stocks were trading falling. Most of the decline was seen in the share of Mahindra & Mahindra.
At the same time, the stock of Sun Pharma was trading with a gain of more than 1 percent. The top gainers of Nifty were UPL, BAJAJ FINANCE, INDUSIND BANK, SUN PHARMA and ASIAN PAINT. On the other hand, the top losers are M&M, TECH Mahindra, TATA CONSUMER, ONGC and TCS.
On the other hand, once again weakness was seen in the US market. The Dow Jones closed down by 173 points and the Nasdaq by 167 points. The US market has suffered a setback after FedEx withdraws its guidance for the year. In the past days, the market had seen a huge fall after fears of an increase in the interest rate if the inflation rate in the US went above the expectation.
Earlier on Thursday, the domestic stock market continued to decline for the second consecutive day. With the rise of about 100 points in the morning, the open stock market saw a decline at the end of the trading session. In the evening, the 30-share BSE Sensex closed at 59,934.01, down 413 points. Similarly, the Nifty of the National Stock Exchange closed at 17,877.40, down 126.35 points.
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