Share Market Update: The Indian stock market opened with a heavy decline today. The US stock markets fell victim to the biggest fall in nearly two years on Wednesday. European and Asian markets were also trading in the red mark.
In the morning, SGX Nifty was trading with a fall of 327.50 points or about 2.02 percent. Nifty Futures was being traded at around 17,908 level on the Singapore Stock Exchange.
Condition of Asian markets
Hang Seng was trading with a decline of 3 percent or 619 points during morning trading. Straits Times was trading down 0.56 percent at the level of 3,207.23. Nikkei 225 was also trading at the level of 26,238.40, down 2.50 percent.
The biggest fall in the US stock market since October 19, 1987
On Wednesday, the US stock markets closed with a sharp fall. This was the biggest decline since 1919 October 1987, which is known as Black Monday. NASDAQ closed at the level of 11418.15 with a decline of 4.73 percent or 566.37 points. On Wednesday, the results of Target, a well-known company of America’s department store chain, came out and on seeing it, its market value i.e. market cap was destroyed by one-fourth. Shares of Target were down 25 percent. This points to concerns about the US economy.
Target has indeed been badly hit by the hike in prices. Wednesday was also the worst day since June 2020 for the S&P 500 and the Dow Jones Industrial Average. The S&P 500 also recorded a decline of 4.04 percent on Wednesday.
Bloodbath in Indian stock market
The 30-share Sensex index of the Bombay Stock Exchange (BSE) lost 900 points or 1.66 per cent to open at 53,308, while the Nifty index of the National Stock Exchange (NSE), down 269 points or 1.66 per cent, once again reached below 16000 and traded at the level of 15,971. started of. At present, Sensex 1010 and Nifty are trading with a fall of 296 points.
Today, trading started in a total of 1,670 companies in the BSE, out of which about 423 shares opened up and 1,170 declined. At the same time, the share price of 77 companies opened without increasing or decreasing. Apart from this, today 25 shares are trading at 52 week high and 25 shares are trading at 52 week low. Whereas 74 shares have upper circuit since morning and 67 shares have lower circuit.
Earlier on Wednesday, both the indices of the stock market opened with gains on the last trading day, but after the day’s volatile trading, they finally closed on the red mark with a fall. Sensex closed at 54208 level, down 110 points, while Nifty slipped 19 points to close at 16,240 level. (News24)