On the last trading day of the week i.e. Friday, the stock market is witnessing a huge decline. There is an outcry in the stock markets across the world. At 9:34 am, the Bombay Stock Exchange‘s flagship index Sensex is trading at a level of 38,701.48 after losing 1,044.18 points, or 2.63 percent. At the same time, the National Stock Exchange’s Nifty is trading at 11,331.60, after losing 301.60 points, or 2.59 percent. A massive fall in the domestic stock market sank nearly four lakh crores of investors within minutes.
Outcry in the stock markets around the world
On Friday, the stock market is witnessing a huge decline
The global market continues to decline due to the spread of coronavirus outside China. Because of this, investors are withdrawing money from the market. The market is registering a decline for six consecutive days. The US stock market has reached its lowest level since 2008. The Dow Jones recorded the biggest single-day loss of 1,191 points. It has decreased by four percent. The effects of the virus have also been observed in South Korea, Italy, and Iran. It is also expected to have an impact on the US economy.
Market decline even after forecasting growth
Even in the third quarter (October-December) of the current financial year, the growth rate may be stable at 4.5 percent. SBI economists have made this estimate before the government figures are released. GDP growth rate data will be released on Friday. Due to this, the domestic stock market is witnessing a decline.
This is the condition of Asian markets
Japan’s Nikkei 225 lost 3.28 percent on Friday. The Topix index was down by 3.03 percent. The SGX Nifty was trading down by 176 points. Nifty futures were trading at around 11432 levels on the Singapore Exchange.
Such was the situation of veteran shares
Talking about veteran stocks, shares of all companies opened on the red mark today. The top nine declining stocks are Tech Mahindra, Tata Motors, Yes Bank, JSW Steel, Vedanta Limited, Tata Steel, GAIL, Infratol, and ONGC.
Sectoral index tracking
If we look at the sectoral index, then all the sectors opened on the red mark today. These include PSU Bank, IT, Pharma, Private Bank, Auto, Realty, Media, FMCG, and Metal.
This was the condition of the stock market during the pre-open
The stock market was at the red mark at 9:12 am during the pre-open. The Sensex was down 658.19 points, or 1.66 percent, at 39,087.47. At the same time, the Nifty was at 11,382 levels after falling 251.30 points i.e. 2.16 percent.
The rupee opened at 71.65 level against the dollar
Today, the rupee also witnessed a huge decline against the dollar. Today, the rupee opened at 71.93 levels after falling 38 paise. The rupee had closed at 71.55 against the dollar on the previous trading day.
