This week, Indian markets closed with a decline for the fifth consecutive trading session. On Friday, Nifty fell 102 points to close at 23,767, while Sensex fell 331 points to close at 76,059. During intraday trading, Nifty closed at a low of 23,666 after touching a high of 23,823. Although the market was recovering from the lows, it eventually closed down. Investors suffered a loss of approximately ₹4.8 lakh crore this week. This morning also the market opened with weakness; Nifty opened 203 points lower at 23,666 and Sensex opened 683 points lower at 75,708. Bank Nifty also opened with a decline of about 0.75% at 56,169. Investors suffered a total loss of around ₹3.5 lakh crore at market opening.
Of the top 30 Sensex stocks, 10 closed with gains and 20 with losses. HCL Tech, ITC, Axis Bank and Tata Consultancy Services were the biggest gainers today. On the contrary, stocks like Mahindra & Mahindra, Bajaj Finance and Bharti Airtel were under pressure and fell up to 2.3%.
**Concerns persist regarding crude oil**
Tension continues between Iran and America and negative statements are coming from both sides. Concerns about the supply of crude oil are increasing, causing prices to reach $100. AI-related stocks are seeing a selloff again, leading to weakness in the US and other Asian markets.
**Fall in Asian markets**
Talking about other Asian markets, Japan’s Nikkei fell 3%, Korea’s KOSPI fell 3.9% and Taiwan’s market fell 1.2%. Yesterday, the Dow Jones fell 506 points, while the Nasdaq declined about 2.25%.
