Stock market continues to fall, Sensex falls more than 400 points, Nifty falls below 10,000
1:45 pm: The stock market continues to fall. The Sensex has lost nearly 406.63 points to 33,840.42 level while Nifty is trading at 9996 level with a loss of 119.85 points. Given the fast growing case of corona infection in India, it is feared that there may be a lockdown in the country again. Japan’s financial research firm Nomura has expressed such fears.
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The stock market opened with a downward trend today amid these news. The 30-share sensitive index Sensex opened 32 points lower at 34,214.69 on Thursday on the Bombay Stock Exchange. At the same time, the Nifty of the National Stock Exchange also started trading at the level of 10,094.10. The Sensex has lost 171.28 points in early trade. The Nifty is also trading below 10100.
IndusInd Bank is at the top in Nifty Top Gainer, while other stocks like Hero Motors, Nestle India, HCL Tech, UPL are also seeing a boom. On the other hand, Tata Motors, Gail, Titan, Infratel, Hindalco, Sun Pharma are trading at a loss.
India can declare lockdown again
India has now moved towards unlock. The phase-out loopholes in the country could again become a problem for India. Japan’s financial research firm Nomura has included India in the list of 15 countries where corona virus cases could see a sharp increase after the lockdown was relaxed. It is feared that India may declare a lockdown again if the number of infected cases does not come down.
In our latest report, we develop a visual tool which helps assess the risk of a second wave of # Covid19 in 45 major economies as they start to reopen. Who is on track to recovery and who is at most risk? Find out here: https://t.co/fi4MwesXzE. pic.twitter.com/8KCfo0139X
– Nomura (@Nomura) June 9, 2020
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Nomura has included 45 large economies of the world in its research. India is placed in the Danger Zone, where a second wave of Corona virus is likely to come. India, Pakistan, Saudi Arabia, Colombia, Brazil, Singapore, Sweden, Indonesia, Mexico, Canada, Argentina, Peru, South Africa, Chile and Ecuador are included in this list.
Wednesday’s stock: Sensex rises 290 points in Bank stocks strongly
The 30-share Sensex rose 290.36 points to close at 34,247.05 in volatile trading. Similarly, the National Stock Exchange’s Nifty gained 69.50 points to close at 10,116.15. IndusInd Bank was the biggest gainer among the Sensex stocks, gaining 7.93 percent, followed by Kotak Bank, Reliance Industries, HDFC, Axis Bank and SBI. On the other hand, Hero MotoCorp, Tata Steel, Bajaj Auto and ONGC declined by up to 3.92 percent. The markets were mixed before the US Federal Reserve came into force.