Share Market Updates: A decline was seen in the Indian stock market today and with this the momentum of the last two days was put to a halt. A selling environment is being seen in the market on the last trading day of the week. With this, the 30-share BSE Sensex fell by 165.19 points or 0.19 percent and was seen trading at the level of 85467.49. Whereas it started trading at 85347.40. At the same time, Nifty is trading at 26137.40 with a decline of 0.21 percent or 54.75 points. Whereas it started trading at 26109.55 points.
Sensex turned red
A decline has been recorded in 22 out of 30 Sensex companies. Shares of Tata Steel, HCL Tech, Bajaj Finance, ICICI Bank, Adani Ports, BEL, Eternal and Bajaj Finserv top laggards have fallen by up to 0.9 percent. Only 8 stocks are seeing a rise today. Some buying in M&M, NTPC, Asian Paints, TCS, Maruti Suzuki and UltraTech Cement helped arrest the fall in the headline index. All sectoral indices were in the red, Nifty Metal index was down 1 per cent. After this, Nifty Financial Services Index was seen trading down by 0.5 percent.
Nifty Midcap index fell by 0.39 percent, while Nifty Smallcap index fell by 0.27 percent. Meanwhile, India VIX increased by 10 percent. It is also known as ‘Fear Index’. It measures the volatility expected in the market in the coming period.
Bad condition of Asian market
On Friday, the condition of Asian markets appeared to be deteriorating. Japan’s Nikkei 225 fell 1.57 percent at the opening, while Topix slipped 0.72 percent. A decline of 4.09 percent was recorded in South Korea’s Kospi index and 3.01 percent decline in Kosdaq. Australia’s S&P/ASX 200 was also seen trading down 1.3 percent.
The reason for the decline in Asian markets today may be due to concerns about changes in American interest rates in the minds of investors. Apart from this, weakness in the job market there and sharp selling in global technology stocks are also responsible for the decline. Many Asian tech companies including Japan’s SoftBank have suffered losses due to this selloff. Softbank alone has declined by more than 10 percent.
US market also declined
A decline was also recorded in the American market on Thursday. The Nasdaq closed down 2.16 percent, while the Dow fell 0.84 percent and the S&P 500 fell 1.56 percent by the close.
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