Mumbai
The one who was afraid… Yes, the impact of the Asia’s Market Crash in the Asian stock markets was also shown on the Indian stock market on the first trading day of the week and both the index-nifty shattered with the opening of the Indian stock market on Monday. In the pre-open market itself, both were seen trading with a big fall of about 5 percent. After this, when the market was opened, the 30 -share Sensex of Bombay Stock Exchange was opened by more than 3000 points, while on the other hand the National Stock Exchange’s Nifty also started trading by slipping more than 1000 points. In early trade, the stock from Tata Motors to Reliance declined strongly.
Sensex-Nifty Crash as soon as it opens
At the start of trading in the stock market, BSE Sensex slipped badly at 71,449 levels compared to its previous closed 75,364.69, while NSE NIFTY fell on 21758 compared to 22,904, its previous closed. After this, both the indexes slipped shortly and the Nifty-50, where 1000 points fell to 21,743, the Sensex was seen trading at 71,425.
Shares Crash from Reliance to Tata
In early trade, BSE’s largecap index looked completely red. The shares of all 30 big companies were trading badly. Meanwhile, the biggest decline came in Tata Steel Share and it fell 10.43 per cent to Rs 125.80. Apart from this, Tata Motors Share (8.29%), Infosys Share (7.01%), Tech Mahindra Share (6.85%), LT Share (6.19%), HCL Tech Share (5.95%), Adani Ports Share (5.54%), TCS Share (4.99%), Reliance Share (4.55%) and NTPC Share (4.04%) were trading by falling.
Apart from this, Maruti Share, Kotak Bank Share, Axis Bank Share, Indusind Bank Share, Titan Share, SBI Share, Bajaj Finance Share, HDFC Bank Share, ICICI Bank Share saw 2-3 percent decline.
Midcap and smallcap also bad
Midcap and smallcap shares were also seen on Monday as a bad condition like largecap. PSB Share (7.94%), Bharat Forge Share (7.86%), Coforge Share (717%), Mazgaon Dock Share (7%), Emcure Pharma Share (6.77%). RVNL Share (6%) and Suzlon Share (6.74%) were trading. At the same time, Smallcap stocks recorded the highest 13% decline in JTL India.
Last week saw a strong decline
Last week, there was a strong decline in the stock market. This can only be gauged from the fact that out of the top-10 companies of Sensex, the market cap of 9 companies fell more than Rs 2.94 lakh crore and had suffered heavy losses from TATA’s TCS to Mukesh Ambani’s Reliance. On Friday, the BSE Sensex slipped to 930.67 points or 1.22 per cent to close at 75,364.69, while NSE’s Nifty closed at 22,904.45 with a decline of 345.65 points or 1.49%.
Signs were already being found
There were already weak global signs for the Indian stock market on Monday. Actually, the Asian stock markets were seeing a huge decline. Hong Kong’s Hangsang was trading more than 9 percent by slipping, while Japan’s Nikkei was trading more than 8 percent. Meanwhile, talking about gift Nifty, it had slipped more than 900 points in early trade. Other Asian markets also saw a decline of up to 4-5 percent.