Stock Market Black Monday!: The Indian stock market opened with a major decline on Monday amid poor global signals. At 9:35 am, the Sensex fell 2,381 points (3.12%) to 73,010 and the Nifty 816 points (3.56%) fell to 22,088. The increase in the danger of trade war from the US reciperock tariff is believed to be the main reason for this.
Selling in all sector
Along with large cap, midcap and smallcap also saw a huge decline. The Nifty Midcap 100 index 2,045 points (4.07%) fell to 48,562 and the Nifty Smallcap 100 index 820 points (5.24%) broke to 14,855. All NSE index are trading in red mark. Auto, IT, FMCG, metal, realty, media and energy sectors suffered the most.
These are the top loses
All 30 shares of Sensex declined. Tata Steel, Tata Motors, Infosys, Tech Mahindra, L&T, HCL Tech, TCS, Reliance, NTPC and Axis Bank were the top loosers. Derivative analyst of Choice Broking Hardik Matalia said, “The Nifty shows weakness on the daily chart. Intrade has 22,400 and 22,000 support levels, where stability is expected.”
Global market and oil prices
Asian markets also had a sell -off selling, which saw a decline of up to 11% in Tokyo, Shanghai, Bangkok, Seoul and Hong Kong. The US market closed down on Friday with Dow 5.50% and Nasdaq 5.82%. Amidst global uncertainty, oil prices also fell-Bernt crude decreased by 2.67% to $ 63.82 and WTI crude fell 2.69% to $ 60.31 per barrel.
