Another week of trade has started on a poor note at Dalal Street, as the marquee indices drown in a pool of red in the early hours of the day’s trade on Monday, February 24.
Markets In Decline
The Sensex and Nifty, the marquee indices collapsed in the early hours of the intraday trade. The BSE Sensex lost over 1 per cent of value in the early trade. At the time of writing, the cumulative decline at Sensex stood at 724.37 points, or 0.96 per cent, taking the overall value to 74,586.69 points.
When we look at the National Stock Exchange or NSE, the situation is no different or better. The Nifty 50 index dropped by a colossal 231.00 points or 1.01 per cent, taking the overall value to 22,564.90 points, at the time of writing.
The BSE Sensex lost over 1 per cent of value in the early trade. At the time of writing, the cumulative decline at Sensex stood at 724.37 points, or 0.96 per cent, taking the overall value to 74,586.69 points. |
Another major index, the Nifty Bank also saw its value drop monumentally. The banking index dropped to 48,474.20, after a decline of 1.04 per cent or 507.00 points.
Trump’s Chaos
While, the indian markets have been on the decline, slipping further in value for most of the new year, especially the past few weeks, this current decline is also aided by the larger global uncertainties, initiated by the current US administration under Donald Trump.
This also comes at the back of a colossal decline experienced in the last trading day at Wall Street, with all the major indices, namely Dow Jones, S&P 500, and Nasdaq, all faring poorly on February 21, Friday.
Gainers and Losers
When we look at the losers and gainers at BSE, its a wall of red, that indicates the developments of the day so far.
Mahindra and Mahindra shares that dipped on Friday, bounced back on Monday. However, it was not the same for others. All major tech stocks suffered at the bottom with major losses.
HCL tech, Infosys, Tech Mahindra, and TCS were all trading in red, at the time of writing. Bharti Airtel, and Zomato also traded with losses.
