Stock Market: Amid weak global cues, the standard indices of domestic stock markets have seen a sharp decline during early trading on Monday.
Stock Market : Amid weak global cues, the benchmark indices of domestic stock markets have seen a sharp fall during early trade on Monday. The 30-share index Sensex of BSE saw a fall of 288.8 points during early trading. In this way, the Sensex has slipped at the beginning of the trading day at 57,138.12 points. Similarly, NSE’s standard index Nifty also saw a weakness of 79.4 points during early trading and it came down to 17,014.95 points. In early trade, the rupee slipped by 38 paise to 81.78 against the US dollar. On the other hand, during the opening trade on Monday, the price of gold rose by Rs 380 to Rs 51,110 from Rs 50,730.
Among the companies included in the Sensex, Kotak Mahindra Bank, Titan, Maruti Suzuki, Asian Paints, Infosys, IndusInd Bank, Tata Steel and ITC fell in early trade, on the other hand NTPC, Sun Pharma, Reliance Industries and UltraTech Cement were on the rise. have been done. In other Asian markets, the indices in Shanghai and Hong Kong saw a decline, while the market in Tokyo registered an increase.
Foreign investors withdrawing from Indian market
Let us tell you that the US stock markets closed with a fall on Friday. Meanwhile, international oil standard Brent crude rose 2.62 percent to $ 87.37 a barrel. Foreign institutional investors have again started withdrawing from the Indian market. According to the data available from the stock market, foreign investors had made a net sale of shares worth Rs 1,565.31 crore on Friday. On the other hand, the rupee slipped 38 paise to 81.78 against the US dollar in early trade.
Due to the festive season, bullion market is buzzing
During this festive season, precious metals like gold and silver are witnessing a significant increase in their prices and their prices are also increasing. Let us tell you that the price of gold has been trading with strong momentum for two days. The country’s bullion market is buzzing at the moment as good demand is being seen in the domestic market due to the festive season. At the same time, there is a softening in the dollar price for two days, after which the trend of investors is again turning towards gold. Because rising gold prices can become a source of big earning for them.
Higher demand for gold in domestic markets
Due to this festive season, gold has once again crossed Rs 50,000 in the futures market. Considering the rising prices of gold, experts believe that in this festive season, the price of gold is expected to be above 50 thousand. Because in this festive season there is more demand for gold in the domestic markets and people are emphasizing on buying gold and in view of the rising gold prices, investors have started investing in gold. This can give good income to the investors. On the other hand, rising gold prices are troubling the common people.