First day of business week i.e. Monday and beginning of Mahakumbh. Then the stock market fell on the very first day of Mahakumbh. The stock market closed in the red at 3.30 pm. Then Sensex fell by 1048 points and closed at 76,348 points. Whereas it fell by 345.55 points and closed at 23,085 points.
Why is the market falling?
Strong US employment data has dealt a big blow to the prospects of an early interest rate cut. Apart from this, the price of Brent crude has reached $81 per barrel. Both these factors have also affected the market sentiment. Amid the continuous decline in the market, investors’ wealth has declined by Rs 8 lakh crore since Monday morning. The market cap of companies listed on BSE fell to Rs. 4,21,29,900 crores. On Friday it was Rs 4,29,67,835 crore.
Top Loser-Gainer Shares
Among the 30 Sensex companies, Asian Paints, Zomato, Mahindra & Mahindra, HDFC Bank, Bajaj Finance, Asian Paints, Kotak Mahindra Bank and Tata Steel were the major losers. On the other hand, shares of IndusInd Bank, Axis Bank, Tata Consultancy Services and Hindustan Unilever were trading in the green.
What is the situation in global markets?
A decline is being seen in global markets. Asia-Pacific markets had a weak start to the week. In Asian markets, South Korea’s Kospi, Hong Kong’s Hang Seng and China’s Shanghai Composite saw a decline. Japanese markets were closed today for a holiday.
