New Delhi:
Stock Market Opening Bell: The Indian stock market showed strength in early trade today i.e. on Friday, March 7, but due to weak global signs, the market soon came under pressure. In the pre-open session, the Sensex opened with a slight increase of 40 points and the Nifty remained at 22,500. However, in a few minutes the market dominated the market, causing the Sensex to fall to 300 points to 74,059 and the Nifty also slipped below 22,500.
Indian markets are witnessing a decline due to weak indications from global markets. There is pressure in IT and financial shares, which is affecting the Nifty and Sensex.
Market performance in pre-open session
The stock market opened with a slight increase in pre-open session on Friday. The Sensex was at a level of 74,347.14, with a slight rise of 7.05 points (0.0095%). However, as soon as the market opened, there was a decline due to global weak signals and pressure in IT and financial sector.
Fluctuations
As soon as the market opened, the Sensex lost an early lead and fell for about 300 points. The BSE Sensex was at 9:15 pm at 74,059.16, with a decline of 280.94 points (0.38%). The Nifty also fell 50 to 22,477.25, where it had a decline of 67.45 points (0.30%).
Pressure on IT and Financial Sector
The reason for this decline in the stock market was the increasing pressure on the IT and financial sector. BSE it index has fallen by 1% to lose the lead of the last two days. Large IT shares like HCL Tech, Tech Mahindra, TCS saw a decline. In the financial sector, weakness was also seen in shares like ICICI Bank, NTPC.
List of top gainers and loskers
In early trade, shares like SBI Life Insurance, Axis Bank, Hindalco, Reliance Industries and JSW Steel were included in the top gainers, while HCL Tech, Tech Mahindra, NTPC, ICICI Bank and TCS Tops were included in the tops. Most tech and banking companies were included in the Loozers List, while some stocks of metal and energy sectors were strengthened.
On Thursday, March 6, the Indian stock market closed up on the last day, on the second consecutive day. The Sensex closed at 74,340 with a gain of 609.86 points (0.83%). The Nifty closed at 22,544 with a strength of 207 points (0.93%).