First Published Nov 10, 2022, 9:45 AM IST
Mumbai and Indian stock markets opened the trade with a bang today, with the Sensex and Nifty falling sharply.
While the bullish trend has been seen in the Indian stock market for the past two days, the market has been caught in the grip of a bear since this morning.
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Election results in the United States were released yesterday, in which Republican candidates won more than the ruling Democratic Party. This has led to fears of growing implicit opposition to President Joe Biden’s regime.
Apart from that, US inflation figures are out today. It is highly anticipated that the October inflation rate will decrease or increase. Due to this, US Dow Jones and Nasdaq fell by 2 percent.
The fall in the US stock market was echoed in Asian markets. Nikkei, TOPICS, Hang Seng and Shanghai markets also fell by one percent. The impact was felt in the Indian market before the opening of trade this morning.
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BSE Sensex plunged 450 points before opening trade. The Sensex fell 331 points to trade at 60,701 points in the opening trade.
The Nifty is trading at 18,061 points, down 95 points on the national bourse.
Out of top 30 stocks of BSE, only 6 stocks are bullish while other 24 stocks are down.
In particular, Bharti Airtel, Hindustan Unilever, Powergrid, Nestlé India, TCS, Kotak Bank are moving in profit. Other stocks that fell were Dr.T’s, NTPC, Wipro, Sunpharma, Larsen & Toubro, Reliance, ICICI Bank, HDFC Twins, Titan, Mahindra & Mahindra, Tech Mahindra.
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Adani Green Energy, Eicher Motors, Apollo Hospitals, Berger Paints, Jindal Steel and Power, Zomato will release their quarterly results today.
Only pharma stocks rose marginally on the Nifty. Automobile, IT, Public Sector Bank, banking stocks have fallen.
Crude oil prices fell for the 4th straight day as the impact of the corona virus in China, the world’s largest consumer of crude oil, has not subsided. Crude oil fell 93 cents to $92.31 a barrel
Last Updated Nov 10, 2022, 9:45 AM IST