Stock Market News: Due to increasing tension in the Middle East, there was a huge decline in the domestic stock market. On the fourth trading day of the week, BSE’s 30-share Sensex closed down by about 2500 points, while NSE’s Nifty 50 also slipped below 23,100. Amidst this fall, a huge weakness of about 5 percent was recorded in the shares of HDFC Bank.
Why the big fall in the stock market?
This decline in the stock market has been seen at a time when the latest attacks on Iran have intensified. Along with this, due to the rise in crude oil prices, both Sensex and Nifty fell by more than 3 percent. BSE Sensex fell 2,496.89 points to close at 74,207.24, while Nifty 50 also fell 775.65 points to 23,002.15.
By the time the market closed, all the Sensex shares were in the red. The biggest fall was seen in Eternal’s shares, which fell by 5.65 percent. After this, Bajaj Finserv fell by 5.42 percent, while Mahindra & Mahindra fell by 5.25 percent, HDFC Bank by 5.13 percent and Larsen & Toubro shares fell by 4.72 percent.
Shares of these companies fell
A day earlier i.e. on Wednesday, there was a rise in the domestic stock market. BSE Sensex rose 633.29 points or 0.83 percent to close at 76,704.13, while NSE Nifty rose 196.65 points or 0.83 percent to 23,777.80. During trading, the Sensex had jumped up to 929.38 points at one time.
Slight softening of crude oil prices and strong trend of global markets increased investor confidence, due to which buying was seen in the market. Among the companies included in the Sensex, shares of Eternal, Tech Mahindra, Infosys, Mahindra & Mahindra, HCL Tech, Adani Ports, Tata Consultancy Services and Axis Bank were major gainers. On the other hand, shares of NTPC, Hindustan Unilever, Sun Pharma and HDFC Bank closed in loss.
Also read: Rupee at all time low amid Iran war, Goldman Sachs told how much more it will fall by next year
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