The stock market is down for the second consecutive day on Wednesday. The Corona crisis in Taiwan and the fall in stock markets around the world also have an impact on the domestic market. The Sensex is trading down 310 points at 48,851. The Nifty index is also down 83 points at 14,767. While the market was open flat in the morning.
20 out of 30 stocks included in the Sensex are down, with Hindustan Unilever and Mahindra & Mahindra losing more than 2-2%. Investors are selling most IT and private banking shares. Both the indices are trading at 1-1% on the NSE. At the same time, government sector banking stocks are being bought, due to which the Nifty PSU Bank Index is trading up 4%.
The BSE is trading at 3,118 stocks, of which 1,680 are trading with a gain and 1,245 declining. The total market cap of the companies listed on the exchange has risen to Rs 213.25 lakh crore as against Rs 213.41 lakh crore on Tuesday.
The Sensex opened with a slight gain of 9.47 points in the morning at 49,171. At the same time, the Nifty opened 27.2 points down at 14,823. But in the first few minutes, the Sensex fell by over 200 points. There are two reasons for this, one is that there is a lot of pressure in the stock market all over the world and on the other hand the pace of economic activity is also slow due to restrictions in the country.
However, the stock of Godrej Consumer Products Ltd. is up over 23% in a declining market. Because the company reported a good profit of Rs 365.84 in the fourth quarter. Earlier on Tuesday, the Sensex was down 340.60 points at 49,161.81 and the Nifty was down 91.60 points at 14,850.75. While the markets will be closed on Thursday due to the festival of Eid.
On Tuesday, all US markets closed down. The Dow Jones was down 1.36% to close at 34,269.20, down 473.66 points. The Nasdaq closed down 12.43 points at 13,401.90, down 0.09%. The S&P 500 index was down 36.33 points at 4,152.10. Here, the markets of France and Germany also closed with a fall.
On May 11, foreign institutional investors (FIIs) bought shares worth Rs 336 crore and domestic institutional investors (DIIs) bought shares worth Rs 676.67 crore, according to provisional data on the NSE. The Sensex closed down 340 points at 49,161 on Tuesday. Similarly, the Nifty was down 91 points at 14,850.
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