Asian Paints, Axis Bank, Reliance Industries, Shriram Finance and Hindalco were seen among the losers.
The stock market started trading with a big fall on Monday. The benchmark Sensex of Bombay Stock Exchange (BSE) was seen trading at the level of 79,034.15 with a huge fall of more than 452.17 points at 9.15 am. Similarly, the National Stock Exchange (Nifty) 50 was also trading at the level of 24,016.15, down 132.05 points. Maruti Suzuki, Britannia, Tata Motors, Cipla and SBI were among the major gainers on the Nifty at the start of trading, while Asian Paints, Axis Bank, Reliance Industries, Shriram Finance and Hindalco were seen among the losers.
Decline in pre-opening also
The domestic stock market today showed a decline in pre-opening. Both Sensex-Nifty indices appeared under pressure. Sensex was trading at the level of 79,104.19 with a fall of 382.13 points. At the same time, Nifty was trading at the level of 24,084 with a fall of 64.20 points. BSE Midcap index fell by 0.6 per cent and Smallcap index by 1 per cent during today’s trading. Barring IT, Auto, all other indices are trading in the red, with Telecom, Media, Capital Goods, Healthcare, Metal, Oil & Gas down 0.5-1 per cent.
Rise in Tata Motors shares
Tata Motors share price rose nearly 3% in morning trade on Monday and was among the top gainers among the Nifty 50 stocks on the day the benchmark indices traded in the market. Tata Motors share price opened at ₹801 on the NSE on Monday, slightly lower than the previous closing price of ₹800.95. Tata Motors share price fell as low as ₹792, however recovered to ₹829 levels, registering a rise of about 3%.
Currently underperformance in the Indian market
The Indian market is currently witnessing underperformance due to continuous heavy selling by foreign institutional investors. If we talk about last week, FIIs have sold about Rs 20,000 crore. During this period, domestic institutional investors have made purchases worth Rs 14,391 crore. In the last 29 sessions, foreign institutional investors have sold Rs 1.41 lakh crore.
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