Stock Market Opening: Sensex Fell 300 Points

Stock Market Opening: The market fell under the pressure of the IT sector, Sensex fell 300 points, Nifty below 16,200.

The Indian stock market created momentum last week and lost it in early trading today. Investors started selling under pressure this morning, due to which there was a big fall in the Sensex.

Sensex opened at 54,249 with a loss of 233 points in the morning and started trading while Nifty fell 85 points to open at 16,136 and trading started.

The initial fall in the market had a negative effect on the sentiments of the investors and they started selling.

Due to this, the Sensex fell 300 points to trade at 54,177 at 9.28 am, while the Nifty fell 82 points to 16,138.

Today selling was seen in IT companies.

After the result of TCS, all the IT companies are trading under pressure in the market.

On the BSE, stocks of giant IT companies like Infosys, HCL Tech, Wipro, and Tech Mahindra are seeing a decline of 1 to 2 percent today.

Apart from this, there is also a selling environment in the shares of Bharti Airtel HUL, Dr. Reddy’s, and Reliance today. Bharti Airtel has declined the most by 4 percent and it was the top loser.

On the other hand, the stocks of NTPC, Power Grid, Axis Bank, and ICICI Bank are seeing a rise. There is no change in BSE Midcap and Smallcap in today’s trade and both the indices are trading flat.

Which sector is performing poorly?

If we look at today’s business sector-wise, the most change is visible in the IT sector. Nifty’s IT sector has lost 3 percent.

Apart from this, the stocks of Nifty Metal and Pharma are also trading on the red mark. There is a bullish trend in Nifty Bank and Auto today. The stock of Avenue Supermarts has gained 2.7 percent.

Asian markets mixed trends.

Most of the stock markets in Asia opened on the rise this morning and are trading on the green mark, but some markets are also showing a decline.

The Singapore Stock Exchange saw a fall of 0.11 percent this morning, while Japan’s Nikkei closed at 1.80 percent.

Taiwan’s stock market is trading at a gain of 0.26 percent, while South Korea’s Kospi is up by 0.17 percent. However, China’s Shanghai Composite is also seeing a loss of 0.11 percent today.