The stock market is not able to recover, and Sensex and Nifty, which closed in the red zone on Monday, started trading lower on Tuesday. Within minutes of opening, the Bombay Stock Exchange’s 30-share Sensex index fell by more than 360 points, while the National Stock Exchange’s Nifty 50 index also fell by more than 100 points. Banking stocks saw the biggest decline in early trading, with stocks ranging from HDFC Bank to ICICI Bank trading in the red zone.
Sensex and Nifty are trading in red zone
The stock market started trading down on Tuesday. BSE Sensex opened at 85,325.51, down from its previous close of 85,641.90. As trading progressed, the Sensex slipped to 85,261 within a few minutes. Moreover, if we look at the movement of Nifty, it opened at 26,087, below its previous close of 26,175, and then slipped to 26,068.
Signals of decline were received from abroad. Indications of slow start of trading in the stock market were already visible from the Asian market. In fact, Nifty was trading down by more than 100 points. As markets opened, Asian Paints, Maruti Suzuki, NTPC, SBI and Trent were among the top gainers on the Nifty, while HDFC Bank, ICICI Bank, Bajaj Finserv, Bajaj Finance and Reliance opened in the red.
Bank shares fell sharply
Banking stocks saw a sharp fall in early trading. HDFC Bank shares (1.50%), ICICI Bank shares (1.30%), and Axis Bank shares (1.10%), listed in the large-cap category of BSE, were all trading down. However, even amid the decline, some banking stocks saw improvement. Among these, Yes Bank shares and IDFC First Bank shares included in the midcap category were trading with a gain of about 2%.
These 10 stocks which fell the most
If we look at the list of 10 stocks which fell the most during early trading in the stock market, among smallcap companies, VTM shares (5%), Worth shares (4.98%), Sigachi shares (4.95%), MCloud shares (4.30%), and HariOm Pipe shares (3.60%) were trading with losses. In the midcap category, MFSL shares (2.05%), Nam-India shares (1.80%), NIACL shares (1.80%), UnoMinda shares (1.70%), and Emcure shares (1.60%) were trading with losses.
