Share Market Live Update: The trend of decline in the stock market does not seem to be stopping. On the first trading day of the week i.e. on Monday, the 30-share key sensitive index Sensex of Bombay Stock Exchange opened with a fall of 439 points at 56757, while Nifty also started trading with a red mark.
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In early trade, the Sensex was at the level of 56439, down 758 points. Whereas, Nifty was trading at 26,943 with a loss of 228 points. Barring NTPC and ICICI Bank, all 28 stocks were on the red mark on the Sensex.
The direction of the market will be decided this week due to these five reasons
1. After the cancellation of the deal with Future Retail, all eyes will be on Reliance shares
2. Foreign investors continue selling. FPIs pulled out Rs 12,286 crore from stock markets in April so far
3. Results of big companies including Wipro, Axis Bank and Maruti Suzuki will come
4. Watching crude oil prices amid uncertainty over Russo-Ukraine war
5. US Federal is expected to increase rates by half a percent
Let us tell you that the move of the domestic stock market, which has fallen by about two percent last week under selling pressure, will decide the global trend and the quarterly results of the companies this week. At the same time, investors will also be watching the speculation of a half-percent increase in rates towards the US Fed. Apart from this, the impact of the cancellation of the Reliance-Future deal can also be seen on the market.
Experts say foreign institutional investors (FIIs) have been a constant sell-off in the domestic equity market and their behavior will be crucial amid concerns of aggressive rate hike in the US. There is still uncertainty about the Russo-Ukraine war, while the market will also keep an eye on crude oil prices.