Business

A sharp drop of 1600 points in the stock market, Reliance lost more than 4 percent

Highlights:

  • The increasing spread of corona in European countries has caused concern at the global level.
  • Reliance Aramco shares see a sharp decline due to deal delay
  • Even though the government withdrew the agriculture law, sentiment fell

Ahmedabad: There was a huge fall in the Indian stock market today. Today Sensex fell 1600 points while Nifty fell over 400 points, giving investors breathlessness. The Sensex, which closed at 59,636 at the end of the previous session, opened at 59,710 today, but hit an intra-day high of 59,778 soon after the sell-off, the Sensex fell at one point to 58,011. When the market finally closed, the Sensex was at 1170 with a slight recovery, while the Nifty was down by 348 at 17,416.

Bajaj Finance was the biggest loser among the 30 stocks of BSE Sensex today, down 5.73 per cent. While Bajaj Finserv 5.21. RIL shares fell over 4.5 per cent today on the back of news of a deal between Reliance and Aramco. Due to withdrawal of Agriculture Reform Act by the government and negative sentiment, the market witnessed heavy selling today.

30 position of Sensex at market close

Titan, ACI and Kotak Bank are among the biggest losers in Nifty and Sensex. Shares of Axis Bank also fell 3.54 per cent today. Maruti shares fell 3.32 per cent. However, after the news of the hike in tariff, the share of Airtel rose by 3.59 per cent to Rs 739 today. Apart from this, POWERGRID and Asian Paints were trading in the green zone.

There has been a universal sell-off in auto stocks today. Mother’s Day was down 4.27 per cent and Ashok Leyland was down 4.77 per cent. When it comes to aviation stocks, IndiGo too posted a fall of 4.43 per cent after hitting its all-time high. LT, which has been booming for the last few days, has also seen a decline of 2.20 percent today.

Tata Alexi was down 5.40 per cent today. The stock was trading at Rs 6,045 at 2.50 pm. Infoedge closed 6.57 per cent lower at around Rs 6,050, DMart 4.88 per cent down at around Rs 4,800 and Zomato down 2.97 per cent at Rs 150.

thunder roar

Shares of Paytm, which were listed on Thursday, fell more than 25 percent on the day of listing. Today it saw a decline of 17 per cent at one level. The stock slipped below the Rs 1,300 level, but then opened a little higher and again crossed the Rs 1,300 level.

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