Nifty 50 to Sensex: Why Indian stock market is falling today — explained with six reasons
BSE Sensex today opened upside at 64,619 and went on to hit intraday high of 64,787 mark. However, the 30-stock index witnessed sharp selling at higher levels and hit intrday low of 63,912 levels, losing to the tune of near 1500 points in last two sessions.
Likewise Nifty 50 today opened higher but soon came under sell off heat. Nifty today breached its crucial 19,200 support and hit intraday low of 19,074 mark, logging over 450 points loss in last two sessions.
Bank Nifty also slipped below 43,000 levels and lost near 900 points in this truncated week. Broad market too witnessed heavy sell off as small-cap index lost near 1.45 per cent during Wednesday deals.
The small-cap stock has lost around 2,330 points in this week whereas mid-cap index has corrected near 1,240 points in this time. According to stock market experts, Indian stock market today witnessed some buying interest as 10-year US treasury yield had retraced from 16-year higher levels and had came below 5% levels.
However, the US bond market is again showcasing buying interst as 10- year US Treasury yield has suged again and it has come close to 5% levels once again. They said that Israel-Hamas war, strong US dollar, FIIs' selling, Q2 results 2023 coming below estimates and rising inflation concerns are some other triggers that have dragged Indian stock market in red territory today."Exciting news! Mint is now on WhatsApp Channels
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