New Delhi. Due to weak signals from overseas markets and tremendous profit-booking, the Indian stock market remained in a strong downward trend on Monday. Due to heavy selling, the Sensex has fallen by about 680 points. Nifty has also fallen by about 194 points.
The Bombay Stock Exchange (BSE) Sensex opened at 52,606.99 points today with a weakness of 533.07 points. Due to strong selling at the beginning of trading, the Sensex fell another 100 points to 52,503 in the next 5 minutes, although after this, domestic institutional investors (DIIs) tried to handle the market by buying aggressively.
There was some improvement in Sensex’s position on the back of strong buying. Sensex strengthened its position by about 115 points from the opening level and jumped 318 points from the lowest level at that time to reach the level of 52821.17 points. But after this, along with buying on the market, the period of selling also started. Buying and selling in the stock market continued at the same rate till about 12.30 o’clock, but after 12.30 o’clock the stock market was occupied by the bears. Due to which the Sensex once again fell 679.54 points to reach the level of 52,460.52 points. However, after that the market conditions improved. At 2 pm, the Sensex was trading at a level of 52,556.43 points with a weakness of 583.63 points.
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Similarly, the Nifty of the National Stock Exchange (NSE) also opened at a level of 15,745, down 168.90 points today. In the early trade itself, Nifty came under selling pressure and it fell by about 30 points. But after this there was some rally in the stock market, on the basis of which the Nifty jumped to the level of 15,836.90 points in the next half hour. However, at this time also Nifty was 86.50 points below Friday’s closing level. At 12.30 pm, sharp selling started in the stock market, due to which the Nifty fell by 193.95 points to reach the level of 15,729.45 points. The buying and selling phase is still going on in the stock market, but the overall selling pressure is high. At 2 pm, the Nifty was trading at a level of 15,752.35 points with a weakness of 171.05 points.
The weakness of banking stocks, mainly in the trading so far, has put the entire stock market under pressure. ICICI Bank, Axis Bank, State Bank of India, HDFC Bank, Kotak Mahindra Bank HDFC shares are selling strongly. Along with this, heavyweight companies like Tata Steel, Reliance Industries, ITC are also selling heavily. Due to which there is constant pressure on the stock market.
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Along with this, there is a lot of profit-booking in the market today. Investors are engaged in withdrawing their money from the stock market with profits. The biggest thing is that Foreign Portfolio Investors (FPIs) are selling heavily. Since this morning, foreign investors are trying to recover profits by selling maximum shares in the stock market, due to which the stock market remains under constant pressure.
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