look news india
Stock Market Closing: Amid the general sell-off in the stock market before the budget, a big correction has been seen. Today, after opening at an all-time high, the Sensex and Nifty rose. Investors' capital eroded by Rs. 7.93 lakh crore. Heavy profit booking was seen in smallcap and midcap stocks.
The Sensex closed 738.81 points down at 80604.65 with a volatility of 1088.66 points. The Nifty closed 269.95 points down at 24530.90. All the 26 stocks in the Sensex pack declined up to 5 per cent except Infosys (1.92%), ITC (0.89%), Asian Paints (0.53%), HCL Tech (0.03%).
Sectoral indices include energy index 2.83 per cent, financial services 1.02 per cent, healthcare 1.60 per cent, telecom 2.15 per cent, auto 2.53 per cent, capital goods 1.85 per cent, consumer durables 1.99 per cent, metal 4.11 per cent, oil & gas 2.87 per cent, power 2.67 per cent and realty was down 2.44 per cent.
Microsoft's mistake has no effect
The big Microsoft glitch did not have any effect on the performance of Indian stock exchanges. Due to the glitch in Microsoft, the functioning of stock exchanges in many countries including America, Australia was also disrupted. However, BSE and NSE have informed that our stock exchanges have not been affected by the glitch in Microsoft.
Reasons for the fall in the market
The Indian stock market is overbought. Experts have said that a pause is needed as it has been moving ahead with momentum for some time now. Globally, due to weak economic data from China and the possibility of escalation of tensions between the US and China, investors have increased the selling pressure by exercising caution before the budget.