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Sensex closes at 49,159 after dropping down 870 points

Ashish Matholiya

After dropping down 870 points, Sensex closes at 49,159, and Nifty also moves 230 points downward. The rising data of the Coronavirus has kept the country at bay, whose effect is also visible on the stock market as well. On Monday, the stock market has recorded a major decline. In many states of India, economic activity was also affected due to the lockdown. This resulted in a fall of 1.54% in the major index of the market. In the morning, the Sensex opened slightly down by 9 points at 50,020 and the Nifty opened 29 points down at 14,837.70.

Out of 30 companies Sensex recorded a fall in 25 company shares, In which  Bajaj Finance and IndusInd Bank recorded a 5.6% fall in the overall values which could be considered as the major downfall amongst many. Companies like HCL, TCS and Infosys gained 2%. The index fell by 1450 points and touched the lowest level of 48,580.80 throughout the day. Earlier Sensex noted this kind of view on March 26 when Sensex gone below 49000 points.

After dropping Down 230 points the Nifty closed at 14,637. Investors are the biggest sellers in banking Especially in government banking shares, in which Canara Bank lost 6%. After dropping 1,179 points nifty bank index closed at 32,678. On the same side, the auto index moved 2.5% downward, and the IT index moved upwards by 511 points and moved upwards at 26,491.

A total of 3,141 shares were traded on the BSE, out of which 1,059 shares gained and 1,899 shares declined. It held a lower circuit in 302 shares. At the same time, the total market cap of the listed companies was Rs 205.15 lakh crore, which was Rs 207.25 lakh crore as of 1 April.

According to Motilal Oswal Financial Services Head Chandan Tapadia, “the market is nervous due to rising cases of corona epidemic and increasing restrictions in the states. That is why there is a huge sell-off between the ups and downs”

 

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