Why Indian stock market is falling for two straight sessions — explained with 5 reasons
Stock market today: Extending the bearish trend for second straight session, key benchmark indices of the Indian stock market are trading red in early morning deals on Thursday. However, small-cap and mid-cap indices are in green terriroty that may give a sigh of relief to the loss-making investors. Nifty 50 index today opened lower and went on to hit intraday low of ₹20,976 levels, logging around 475 points loss in last two sessions.
BSE Sensex too witnessed selling pressure and touched intraday low of 69,920 mark, logging over 1,500 points correction in last two sessions. Likewise, Bank Nifty today opened gapdown and went on to touch today's low of 46,919 levels, registering over 950 points loss in two days in a row. According to stock market experts, fear of new Covid-19 variant and news of new Covid-19 cases in India has triggered the panic selling.
They said that Indian stock market was in overbought zone and hence FIIs are selling extensively in Indian stock market. Also Read: INOX India share price debuts with 44% premium at ₹949.65 on NSE Stock market experts also said that recent SEBI's crackdown on SME merchant bankers could also be a reason for current fall in Indian stock market. However, they advised investors to maintain strict stop loss as there can be strong rebound as small-cap and mid-cap indices are showing signs of recovery in early morning deals.
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