The domestic stock market opened with a positive trend on Wednesday (March 5) amidst a boom in Asian markets. The US Commerce Minister indicated some relief in tariffs in Canada and Mexico. It has had a positive impact on the market notion. Meanwhile, US President Donald Trump has reiterated his plan to impose tariffs. Today there is also an increase in broad markets. In early trade, Nifty’s smallcap index rose 0.46% and midcap index 0.30%. Earlier on Tuesday, the market had a decline for the third consecutive day. The Sensex closed at 72,989.93 with a decline of 96.01 points or 0.13%. The Nifty closed at 22,082 with a decline of 36.65 points or 0.17%.
The longest phase of decline in Nifty
On Tuesday, the Nifty-50 closed down at 22,080 in the 10th consecutive trading session. It is its lowest level after June 4 and shows a decline of 16 percent from the highest level of 26 September. The decline in 10 consecutive trading sessions has been the longest series of decline since the establishment of the Nifty on 22 April 1996.
The base date of the Nifty 50 is 3 November 1995 while the price is 1,000. Between 28 December 1995 to 10 January 1996, the Nifty declined by about 6 percent, and it was recorded in 10 consecutive trading sessions. The Nifty has declined by 3.83 percent or 879 points during the last 10 trading sessions.
Decline in American markets
Donald Trump’s decision to impose tariffs on the US’s largest trading partners is showing a decline in shares again on Wall Street due to the reaction of companies and investors. On Tuesday morning, S&P 500 declined 0.7 percent, Nasdac 0.6 percent and Dow by 423 points or 1 percent.
The recent decline in American stocks has increased further due to the growing trade war between the US, China, Canada and Mexico. This decline was due to a pre -signs of weakness in the economy.
