Between the decline in the global market and the weakness in the rupee, the Indian stock market is once again on a major decline. In the opening minutes of the second business day of the week, the Sensex fell more than 100 points and came down to 37 thousand. At the same time, the Nifty also fell by more than 50 points. The Nifty was trading at the level of 10 thousand 950.
Shares of the Auto and banking sector were battered in early trade. Hero MotoCorp and Tech Mahindra were down about 2 percent. Similarly, Bajaj Auto, Mahindra, Tata Motors, Maruti were also seen doing business on the red mark. Axis Bank, HDFC, ICICI Bank, Kotak Bank, HDFC Bank and Bajaj Finance also fell in the banking sector. Meanwhile, on Tuesday, the rupee started with a huge fall. The rupee opened at a level of Rs 71.80 against the dollar, down by 20 paise. If we explain that on Monday, the rupee fell 67 paise to close at 71.60 against the US dollar.
Stock Market Situation on Monday
Earlier on Monday, the Sensex lost nearly 262 points and closed at 37,123.31. Similarly, the Nifty also dropped 79.80 points to 10,996.10 points. 24 of the top 30 stocks included in the index of the Sensex were at a loss. At the same time 6 stocks gained. The major losers are Mahindra & Mahindra, SBI, Yes Bank, Asian Paints, HDFC, Tata Steel and L&T. These fell by 2.55 per cent. On the other hand, Tech Mahindra, ONGC, Sun Pharma, HUL, TCS and Bharti Airtel strengthened by 1.44 per cent.
No Impact seen on Government's Decision
Actually, due to drone attack on two oil plants of Saudi Arabia, there has been an atmosphere of fear among investors. Due to this, selling is being seen. Although several announcements were made by the government on Saturday to give a boost to the sluggish economy, but the market has not benefited from it. In such a situation, it can be said that international factors seem to dominate the decisions of the government.
