Finance
The Indian stock market was down drastically in the middle of the day on Monday, with major selling in car, metal, real estate, and energy stocks.
At 12 p.m., the BSE Sensex was trading at 78,609, down 1,317 points or 1.65%. In contrast, the NSE Nifty was trading at 23,862.55, down 441.80 points or 1.82 percent at the moment.
Except for M&M and Tech Mahindra, all Sensex stocks were trading in the red. Sun Pharma, Reliance, NTPC, Tata Motors, Power Grid, and Tata Steel were the biggest losers.
Almost all sector indices were trading in the red. Auto, IT, PSU Bank, financial services, pharmaceuticals, MMCG, metals, real estate, media, private banks, infrastructure, and commodities all suffered significant losses.
In the afternoon trade, Nifty Bank fell 575.95 points, or 1.11 percent, to 51,097.95. At the same time, the Nifty Midcap 100 index has dropped to 55,671.20, a loss of 824.85 points or 1.46 percent. The Nifty Small Cap 100 index has dropped to 18,384 after dropping 410.75 points, or 2.19 percent.
The market trend has been unfavorable. On the BSE, 1,062 shares were trading green and 2,856 shares were trading red. There has been no change to 131 shares.
According to market experts, the global market will be focused on the US presidential elections for the next several days, and volatility may persist for some time regarding the election results.
Source:IANS
