Mumbai, First Published Mar 24, 2022, 9:50 AM IST
The Mumbai Stock Exchange and the National Stock Exchange started trading lower this morning. The market is sluggish as investors are afraid to invest in the international environment.
Russia-Ukraine war
The war between Ukraine and Russia is intensifying day by day. The position of Ukraine and the position of Russia have worried investors who expect the war to end soon and the economy to return to normal.
Sanctions
The embargo on Russia is likely to intensify. The European Union is set to meet today and tomorrow to discuss an order banning crude oil imports from Russia. Thus investors in the market are looking closely at the global environment.
increase in price
Crude oil prices have been rising for the past few days. Investors are also noticing this. The sluggish US stock market and the Asian stock market have not given investors confidence. Thus investors have not been eager to invest since the start of morning trading.
Investors are trying to make a profit by investing only partly in oil and gas stocks, coal, IT stocks and pharmaceuticals. Thus other ports are moving towards a massive collapse.
Decline
The Sensex, which started the morning on the Bombay Stock Exchange, fell by 400 points to trade at 57,825 points. At the National Stock Exchange, the Nifty was down 117 points at 17,128.
Metal, oil rise
Of the 30 major stocks in the Mumbai Stock Exchange, only TCS, Tech Mahindra, Tata Steel, Dr Reddy’s, HCL, Ultratech, Wipro, NTPC and Infosys are gaining ground. All other ports are moving towards collapse.
Fall
Shares of media, information technology, metals, oil and gas sectors are moving higher in the Nifty. Banking stocks are declining badly. Shares of automobile, FMCG, private banking, public sector banking, real estate and pharmaceuticals also declined.
Last Updated Mar 24, 2022, 9:51 AM IST