Today, the first day of trading, the National Stock Exchange and the Mumbai Stock Exchange started with declines and ended with declines. Following the release of quarterly results, IT stocks plunged.
International situation
The US Federal Reserve is set to release inflation figures today. Investors are looking forward to the announcement of the US Federal Reserve as inflation is likely to rise and interest rates are likely to rise.
China Lockdown
Lockdowns continue in various cities in China due to the spread of the corona virus. Do not invest enthusiastically because the prolongation of the lockdown in China has caused investors fears that it will cause another wave globally.
Apart from this, the fall in crude oil prices to $ 2 a barrel and the possibility of an escalation of the war between Ukraine and Russia are eroding investor confidence.
ID quarterly results
Apart from this, the 4th quarter results of IT companies in India including Infosys, HCL and TCS have been released. In anticipation of these results, investors sold shares of the IT sector and began to make a profit. As a result, IT stocks plummeted.
The Nifty traded 100 points lower on the Mumbai Stock Exchange and the Nifty 52 points lower on the National Stock Exchange before the start of morning trade.
Severe decline
However, the decline intensified later in the afternoon. The Sensex ended 482 points lower at 58,964 on the Bombay Stock Exchange. On the National Stock Exchange, the Nifty fell 109 points to close at 17,674.
In today’s trade, 282 stocks ended with a gain of 1,393 shares, while 121 stocks remained unchanged.
IT stocks fall
Of the 30 major stocks on the Mumbai Stock Exchange, 20 ended with declines and 10 with gains. Shares of HCL, Infosys, Larsen & Toubro, Wipro, SBI Life, Asian Paints, HDFC Twins and Axis Bank were the biggest gainers. Shares of HCL and TCS fell 2 percent
Meanwhile, shares of Grossim, Adaniports, JSW Steel, UPL, Cipla, Apollo Hospital and BBCL ended higher.
Loss of profit in Nifty
The IT, financial services, public sector banks, private sector banks and sectors in the Nifty fell by 1 per cent. Shares of real estate, oil and gas, metals and media sectors ended higher.
Shares of automobile, media, metals, pharmaceuticals, public sector banking and real estate sector are gaining. Shares of Information Technology, FMCG, Private Banking and Financial Services declined.
Last Updated Apr 11, 2022, 3:56 PM IST