The Indian markets, after a fairly less chaotic day yesterday, have once again come back to their poor form. The marquee indices have all declined by a monumental 1 per cent on average at the very beginning of the day’s trade.
The Indian indices have been going through a correction period, as result of which the value of the indian indices has declined. In addition, a mass exodus of FII has definitely not aided Dalal Street either.
This is largely being attributed to the external factors as well. The Trump administration’s whimsical policy-making loaded with tariffs appears to have negatively impacted the Indian markets, who are said to be moving to more stable and reliable markets, including China.
Sensex Slumps
Looking at the performance of the Indian equity markets today, the BSE Sensex started the day on a disastrous note. At the time of writing, the cumulative decline amounted to a colossal 994.07 points or 1.33 per cent. This slashing took the overall value of the index to 73,618.36.
Negative Nifty
Affairs were no different at the National Stock Exchange or NSE, where the indices collapsed as well. The marquee index, the Nifty 50 shed a monumental 309.60 points or 1.37 per cent, taking the overall value of the index to 22,235.45 points at the time of writing.
The Nifty Bank index, the index that stood out in the slowdown yesterday, also suffered in the early hours of the day’s trade. The banking index slopped down to 48,323.05, after shrinking by 420.75 points or 0.86 per cent.
It is to be noted, that it appears, that Nifty is all set to break a 30-year-old record, as its declines for the 5th month straight.
Gainers and Losers
When we look at the gainers and losers at the bourse, a red wall of decline appeared on the BSE website. Tech Mahindra, IndusInd Bank were amongst the biggest losers with losses of over 4.5 per cent.
Other losers in the day included Mahindra & Mahindra, HCL Tech, along with the likes of Infosys, Maruti and TCS, who also saw losses of over 2 per cent.
