On Wednesday, the stock market witnessed a decline for the second consecutive day. The special thing is that within just 10 minutes of market opening, the Sensex has fallen by more than 625 points. Due to this decline, there was a loss of Rs 2.79 lakh crore. The main reason for this decline in the stock market is the renewed tension between America and Iran. Due to which there has been a tremendous rise in the prices of crude oil. On Wednesday, crude oil from Gulf countries crossed 76 dollars in the international market and a big fall in the rupee was also seen. Let us also tell you what kind of figures are being seen in the stock market.
Big fall in stock market
A big fall is being seen in the stock market on Wednesday. If we look at the data, Bombay Stock Exchange's main index Sensex is trading at 77,621.92 points with a decline of 559 points. Whereas during the trading session, the Sensex fell by 625.2 points and went to a lower level of 77,555.52 points. However, the Sensex had fallen to 78,180.72 points a day earlier. On the other hand, the main index of National Stock Exchange Nifty is trading at 24,238.25 points with a decline of 159 points. Whereas Nifty fell by more than 180 points and went to the lower level of the day at 24,207.20 points.
Big fall in these shares
On the Sensex, shares of UltraTech Cement, Asian Paints and Indigo fell 2-3 per cent each, while Maruti Suzuki, Bajaj Finance, ITC, Kotak Mahindra Bank, SBI, Bajaj Finserv, Tata Steel, Bharat Electronics (BEL) and Reliance Industries (RIL) fell around 1% each. Infosys, TCS and Sun Pharma were the only stocks which traded with slight gains. Amidst the bearish atmosphere on Dalal Street, India VIX, which measures market volatility, rose by more than 5 per cent to 12.25 on Wednesday morning. Sector wise, Nifty Oil & Gas, Nifty Financial Services, Nifty Auto, Nifty Metal, Nifty PSU Bank and many other sector indices fell by about 1 per cent. However, Nifty Pharma gained 0.7 per cent. The overall trend of the market was negative. On NSE, a decline was seen in 1,574 shares and rise in 749 shares, while there was no change in 123 shares.
Main reasons for market decline
- Tension again between America and Iran: The American army attacked Iran early Wednesday. The attack came after the US said that Tehran had attacked three ships in the Strait of Hormuz. According to AP report, Iran retaliated by targeting Bahrain and Kuwait.
- Increase in crude oil prices: Brent crude rose 2.6 percent to $ 76.1 per barrel after the US military carried out several strikes against Iran. In the previous session also, an increase of 3 percent was seen.
- India VIX rises: The fear scale or volatility index increased by more than 7 percent to the level of 12.47, which is again a sign of uncertainty.
- Rupee decline: On Wednesday, July 8, the Indian rupee fell 20 paise to 95.17 against the US dollar. Amid renewed geopolitical tensions in the Middle East, a sharp rise in crude oil prices and a rise in US treasury yields impacted investor sentiment.
-
Kriti Sanon froze her eggs, ‘Cocktail 2’ actress spoke big on her decision to become a mother. Kriti Sanon Reveals Why She Froze Her Eggs Talks About Motherhood And Mimi Photoshow
-
VKTX Vs BCRX: Which Biotech Takeover Favorite Offers More Upside After Vertex’s $10B CRNX Deal?
-
Will Akanksha Chamola marry again after divorce from Gaurav Khanna? Future plan told in ‘Lock Up 2’. Akanksha Chamola Divorce Gaurav Khanna Second Marriage Bisexual Statement Lock Upp 2
-
PM Modi shares majestic aerial view of Prambanan Temple in Indonesia
-
Cristiano Ronaldo’s legacy is untouchable, says Thierry Henry
