Stock market today: There is a fluctuations in the Indian stock market among clouds of uncertainty globally. The start of March was positive after a huge decline in February. However, the market collapsed in a few moments. Investors suffered an additional loss of Rs 3 lakh crore. Smallcap stocks have suffered the most due to the decline in the stock market. Today, the BSE Smallcap index has declined by 1000 points.
The Sensex improved by 451.62 points after the increase was opened. However, it later recorded a decline of 401.06 points. At 10.40 am, the Sensex fell 198 points to trading at 73000.10.
Nifty broke support level
The Nifty has broken the support level of 22150. Today it was 22012.25. Therefore, if the Nifty breaks the level of 50 22000, then investors are afraid that the recession will intensify. The market cap has also reached a 15 -month low due to selling in PSU shares.
Causes of market volatility
Strong domestic GDP, as well as global rating agencies, a boom in the stock market, along with global rating agencies, the country’s economic growth would remain strong. However, along with the pressure of selling FII, tariff war and geopolitical crisis has put pressure on the market. The US policy of imposing 10 percent tariffs on China is going to be implemented this week. In turn, China has also shown its readiness to levy fees on agricultural products. On the other hand, speculation of not being ready to sign Ukraine’s peace agreement in the ongoing war between Ukraine and Russia has increased the geopolitical crisis.
Improvement in IT and technology shares
IT and technology shares were seen to improve today amid normal selling in the stock market. Infosys on BSE Sensex are also trading with a gain of 1.56 per cent, Tech Mahindra 0.50 per cent, HCL Tech 0.36 per cent, TCS 0.42 per cent. Wipro’s stock also increased by 2.32 percent.
