Crude oil prices rose 4% to $87 a barrel due to rising tensions with Iran; This development weakened the market sentiment. On Tuesday – with the weekly closing – Nifty fell 159 points to close at 24,052, while Sensex fell 561 points to 77,055. Investors suffered a loss of ₹3 lakh crore due to the fall in the market today. Intraday, Nifty touched a low of 24,023 and a high of 24,157. Although the market was under pressure on Monday too, it closed flat and managed to maintain the important support level of 24,000. Today’s fall brought the market capitalization of BSE-listed companies down from ₹482.41 lakh crore to ₹479.41 lakh crore, causing a loss of ₹3 lakh crore to investors.
Of the top 30 Sensex stocks, 24 closed in the green and 6 closed in the red. HCL Tech, Bajaj Finserv, Indigo and State Bank were the biggest fallers, falling up to 4.4%. On the contrary, shares like Bharti Airtel, TCS, Sun Pharma and Tata Steel saw gains, with Airtel leading the pack with a gain of 1.65%.
What was the main reason for the decline?
The main reason for the fall in the market today was the rise in crude oil prices, due to which they reached $87 per barrel. As a result, the rupee weakened by 58 paise at 96.20 against the dollar. Falling shares in Nifty 50
HCL Tech -4.32%
HDFC Life -3%
Shriram Finance -2.95%
Tata Motors PV -2.43%
Shares rising in Nifty 50
Bharti Airtel +1.96%
Apollo Hospital +1.28%
Sun Pharma +1.11%
Dr. Reddy’s +1%
How did the market open this morning? On Tuesday, Nifty opened 143 points lower at 24,068, while Sensex opened 344 points lower at 77,272. Investors suffered a loss of ₹1.77 lakh crore in one fell swoop as the market opened lower. Shares like Indigo, Bajaj Finance and HCL Technologies are witnessing the biggest decline. It is noteworthy that at the close of market on Monday, the market capitalization of BSE listed companies was ₹482,412.92 crore; It fell to ₹480,640.22 crore when the market opened today. As a result, investors immediately lost assets worth ₹1.77 lakh crore.
America attacks Iran again
America has once again attacked Iran. President Trump informed the US Congress that tensions with Iran have resumed. Due to this, crude oil prices have increased by 8-10% and it is trading around $85 per barrel.
