Asian markets saw a decline due to the Corona virus outbreak in China. Because of this, the Indian stock market has started in red mark on the first trading day of the week. The Bombay Stock Exchange (BSE) Sensex opened 103 points down at 41,510.68 at the start of trading on Monday.
Similarly, the National Stock Exchange (NSE) Nifty lost 74 points to open at 12,174.55. In a short time till 9.24 in the morning, the Sensex fell by 277 points.
Asian Markets Fall
The Asian stock markets are witnessing a fall due to the fear of the impact on the Chinese stock market due to the ongoing outbreak of Corona virus in China. Japan's Nikkei Average N225 declined by 2 percent and reached its lowest level in five months. The China AMC CSI 300 Index ETF declined by 2.2 percent. However, many Asian markets remained closed today due to the Lunar New Year.
That is, at the beginning of trading, the Nifty went below the level of 12,200. By 10.05 am the Nifty was down by 47 points and was trading at 12,201. There is a decline in all sectors. The decline is being led by metal, banks, energy, infra, pharma and IT sectors. During the business, 314 stocks gained and 448 shares declined.
Prominent stocks to rise include ICICI Bank, TCS, Dr. Reddy's Lab and TCS, while the leading losers include JSW Steel, Bank of Baroda, HDFC Bank and Yes Bank.
The stock markets continued to rally for the second consecutive trading session on Friday. The Sensex rose 227 points due to strong buying in banking shares amid improvement in global markets. At the end of trading, the Sensex gained 226.79 points, or 0.55 per cent, to close at 41,613.19. It also touched a high of 41,697.03 points and a low of 41,275.60 points during trading. The National Stock Exchange's Nifty also gained 67.90 points or 0.56 percent to close at 12,248.25 points.
The Indian stock market may see a period of ups and downs during this week, as investors will be waiting for the upcoming general budget -2020. At the same time, due to the last week of the month, the market may remain volatile due to the termination of futures and options (F&O) contracts.
Apart from this, the financial results of the third quarter of many major companies will be announced, which will be watched by the market. The budget session of Parliament starts on January 31 and Finance Minister Nirmala Sitharaman will present the General Budget 2020-21 on February 1. Before this, the Economic Survey will be presented on January 31, which will be monitored by the market.
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