The effect of Corona’s new wave was clearly visible in the market in the last trading session of the week. Today the Sensex fell by 983 points to the level of 48782 and the Nifty fell by 263 points to end at 14631 level. Investors have suffered heavy losses due to the fall in the market. Today, the total market cap of BSE listed companies has come down to 207.02 lakh crore as compared to 209.05 lakh crore yesterday. In this way, more than 2 lakh crore rupees of investors were drowned in a single day.
Only four stocks in the top-30 of the Sensex closed in the green mark today. These four stocks are ONGC, SunPharma, Dr Reddy and Bajaj Auto. HDFC, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Asian Paints and Mahindra & Mahindra were the biggest losers. Binod Modi, the strategy head of Reliance Securities, said the market slipped today due to the decline in financial stocks. In the month of April, China’s factory output was less than expected, due to which the Asian stock market was under pressure. Today, all sectors including metals, IT, except pharma, were recorded declining.
Exit poll is also visible
Amidst the new wave of Corona, the US 10-year bond yield is seeing a boom. It has been steadily increasing since 23 April and today it reached 1.6444 percent. Whenever there is a rise in the yield, the pressure on the stock market increases. The results of exit polls are also visible on the stock market. In an ET report, Mohit Nigam, head of Hem Securities, said that the last phase of elections was held in Bengal on April 29. In the exit poll results, the BJP is not seeing as much success as was expected. This has also affected the sentiment of investors.
FPIs are constantly withdrawing money
Here, only in the month of April, Foreign Portfolio Investors (FPIs) have withdrawn more than 10 thousand crores rupees from the Indian stock market. Brokerage firm UBS says that foreign investors can withdraw $ 3-4 billion (about 22-25 thousand crore rupees) from the Indian stock market in the short term. Its effect will definitely be seen on the stock market. In such a situation, investors need to be cautious.
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