Stock Market Today: The recession continues in the stock market amid FII selling and global challenges. Today, after a positive start at the beginning of the week, Sensex and Nifty are continuously falling. Heavy profit booking has also been seen in IT stocks.
After opening with a jump of 300 points due to weak quarterly results and selling by foreign investors, the Sensex today fell by more than 600 points to 77,000 points. It was trading at 77138.10, down 442.21 points after 11.00 am. Nifty also lost the psychological level of 23400 and was trading at 23351.00, down 181.70 points.
There is a decline in IT and techno stocks
With Trump getting majority in America, an attractive rise in IT and technology stocks was seen due to the rise in the dollar index. However, investors in IT and technology stocks are booking profits as Federal Reserve Jerome Powell has refused to cut interest rates. Today BSE Information Technology Index fell 3 percent to a low of 40861.16. Till 11 pm itself, a fluctuation of 1337 points was seen. Technology index was also trading down 2.50 percent. TCS was trading down 3.64 percent, Wipro 3.52 percent, Mind Tree 3.54 percent, Infosys 3.12 percent.
There will be buying in metal-realty after a long time
In the context of the overall improvement in the market in the last two weeks, metal and realty stocks witnessed major losses. However, less buying was seen in metal and realty stocks today. As a result, metal and realty indices are trading in the green zone. Slight improvement was also seen in auto stocks.
