After the holiday break, the Indian stock market experienced a notable downturn, with both the Sensex and the Nifty registering considerable losses. The Sensex dipped below the 72,400-point mark, while the Nifty saw a decline of 149 points.
The trading session commenced with a sharp downturn following the three-day holiday period
Early trading activities saw the Sensex plummeting by 435 points, accompanied by a 149-point drop in the Nifty. Opening at 72,591 points and 21,947 points, respectively, for the Sensex and Nifty, the market showcased a bearish sentiment.Reports indicate significant volatility in key sectors such as auto, IT, and banking shares. Notably, out of the 30 stocks constituting the Sensex, 19 recorded losses, while 11 witnessed gains. However, the Nifty experienced a more pronounced downturn compared to the Sensex.
Power grid shares bore the brunt of the market decline
Witnessing a drop of over 3% during today’s trading session. This decline is attributed to the downward trend observed in the US markets during the holiday period, with the Dow Jones slipping from its recent highs.In the banking sector, the Bank Nifty opened above 46,552 points but with a decline of 310.80 points or 0.66%. Most banking shares are currently trading in the negative territory.Today’s trading session is anticipated to be volatile due to the influence of the Federal Reserve’s inflation policy, along with the expiration of contracts for the March F&O series.
On the previous trading day, Friday, the Indian stock market had witnessed significant gains. The Sensex had closed at 72,831 points, marking a gain of 190 points, while the Nifty had closed at 22,096 points, recording an increase of 84 points.Overall, the post-holiday trading session has seen a substantial downturn in the Indian stock market, reflecting investor concerns and market uncertainties.