The domestic stock market has seen a sharp decline today amid mixed global signals. The market has been volatile all day. Recovery came after a weak opening, but later the sell-off came. In today’s business, the SENSEX had weakened to a level of 48796 by 750 points. The Nifty also came close to 14400. At the end of the trade, the Sensex fell by 549 points and closed at the level of 49,034.67. While the Nifty lost 162 points and closed at the level of 14434. There was a four-day sellout in the market today. However, the largest decline has been in IT stocks. All indexes including banks and financials have weakened. Today, HCL Tech and Tech Mahindra have seen 4 percent weakness. Although Airtel and ITC gained momentum.
In today’s business, 4 stocks of Sensex 30 have been rising. While 26 shares have closed in red mark. Apart from Airtel and ITC, Bajaj Auto and Bajaj Finance closed with Tejali. While HCL Tech, Tech Mahindra, ONGC, Asian Paint, Infosys, Ultratech Cement, HDFC, HUL and Dr Reddy’s have been the top losers.
In today’s trade, 12 of the 12 indexes on the Nifty have closed in the red mark. IT index has been the biggest drop around 2.5 percent. Realty and PSYM Bank index also weakened by 2%. The financial and metal index has lost 1 percent. There is a decline of 1; 5 percent in the pharma index. Auto and FMCG index also weakened.
