Share Market Bleeds As Sensex Plunges Over 1,500 Points, Check What Markets Are Reacting To
As of 9:37 AM, the BSE Sensex plunged more than 1550 points to trade at 79,431.91, while the NSE Nifty50 tanked close to 480 points to touch 24,239.25 in the session
Share Market Today: The stock market opened the trading week with a major shock to investors. On Monday, the key equity benchmark indices tanked as markets started trading. In the early market session, the Sensex opened trading at a loss of 2,401.49 points, while the Nifty50 tumbled almost 500 points.
As of 9:37 AM, the BSE Sensex plunged more than 1550 points to trade at 79,431.91, while the NSE Nifty50 tanked close to 480 points to touch 24,239.25 in the session.
What Caused The Downfall?
This decline followed the bloodbath in Asian indices in the aftermath of a rate hike announced by the Bank of Japan. Further, a weak unemployment data from the US, released on Friday, dampened sentiments in the market. Notably, the unemployment rate for the US stood at 4.3 per cent, latest data revealed. Tensions in the Middle-East region also added to the stress building for the markets.
This fall in the market comes ahead of the RBI Monetary Policy Committee meeting, scheduled to begin on Tuesday. The MPC has maintained the status quo on the key interest rates for the last eight consecutive meetings.
Stock Update
On the BSE Sensex platform, Sun Pharma, Hindustan Unilever, Nestle, Asian Paints, and ITC emerged the only gainers in the morning session. Meanwhile, Maruti Suzuki, Tata Motors, JSW Steel, Tata Steel, and M&M led the losses in the session.
The broader markets completely bled in the morning session. The Nifty Smallcap 100 index decline 2.37 per cent in the session in the morning market hours, while the Smallcap 50 index followed with a loss of 2.24 per cent.
In the last trading session on Friday, the indices settled the day on a negative note as investors prioritised profit-booking. The Sensex tumbled 885 points to close the session at 80,982, while the Nifty ended trading at 24,717, taking a fall of close to 300 points.
Sectoral Update
Amongst the sectors, the Nifty Realty index dominated among the laggards and slipped close to 4 per cent, followed by Auto and Metal indices which plunged 2.79 per cent and 2.73 per cent respectively.
Rupee Movements
On Monday, in the early trading session, the domestic unit hit an all-time fresh low against its American counterpart. The Indian rupee depreciated 8 paise to touch 83.80 against the US dollar. In the last trading session on Friday, the currency closed at 83.72 against the greenback.
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