The Indian stock market is seeing a major decline before the Indo-Bitten Free Trade Agreement (FTA). The Sensex-Nifty has recorded a huge decline, while the pressure is also being seen in the bank Nifty. Shares like HDFC Bank, ICICI, Axis Bank, SBI are also seeing a decline. On the day of Nifty’s expiry, the Nifty was trading below 50 points to 50 180 points. At the same time, the Sensex fell 650 points to 82,067 levels.
Out of the top 30 shares of BSE Sensex, 5 shares – Zomato, Tata Motors, Tata Steel, Titan and Sunforma – all remained below. The biggest decline was in Trent’s shares, which was more than 3 percent. Apart from this, Tech Mahindra and Reliance Industries also stood in shares. IT, banking, financial services also saw a huge decline.
Why decline in stock market today? The global markets are below, while the Asian counterparts are above the optimism of the new America-Japan trade agreement. The results of the decline in the Indian market have not been good by some companies. The results of the IT sector have been particularly bad, due to which shares such as Coforge and Persistent Systems have fallen by 9 per cent.
The quarterly results of Nestle have also not been good, due to which this stock is also under pressure. At the same time, banking stocks have also declined, due to which there is a widespread decline in the market. At the same time, pressure is being seen in the market before the formal signature on the Indo-Britain Free Trade Agreement.
The stocks fell by 26 per cent. IEX shares fell by 26 per cent today after the Central Electricity Regulatory Commission (CERC) approved the implementation of market coupling rules. It is a model under which the upcoming dialects on all power exchanges are collected at one place. Under this model, the price of electricity at a time on all power exchanges will be the same. After the implementation of this model, IEX’s business will be affected, due to which its shares fell by 26 percent today.
These stocks also fall drastically! Anil Ambani’s shares of Reliance Power have fallen by 5 percent. In addition, 5%in metropolitan gas shares declined by 5%in shares of Kofjerge, 7%in Persistant Systems shares, 4%in Nestle shares and 330%in Trent’s shares.
