Stock Market Opening: The market fell under the pressure of the global market and weak rupee, Sensex-Nifty broke as soon as it opened...
The Indian stock market has seen a decline for the third consecutive session on Friday morning. Due to the fall in the global market and the record weakness of the rupee, a negative effect is also visible on the sentiments of the investors.
The Sensex opened and started trading at 59,005 with a loss of 115 points this morning, while the Nifty opened at 17,594 with a loss of 36 points and started trading. Investors continued selling from the beginning today and due to continuous profit-booking, the Sensex fell 250 points to 58,867 at 9.25 am, while the Nifty fell 50 points to reach 17,600.
Investors betting here today
Investors have been betting on companies like HDFC, HDFC Bank, Tech Mahindra, IndusInd Bank, and Tata Motors since this morning and the continuous buying has brought the stocks of these companies to the list of top gainers. On the other hand, companies like Tata Steel, Cipla, Hero MotoCorp, Apollo Hospitals, and JSW Steel declined due to selling and these stocks joined the list of top losers.
This sector is the weakest
If we look at today's business sector-wise, then all the sectors are fluctuating. However, sectors like Nifty Media, Nifty Pharma, and Nifty Metal have seen marginal gains, while Nifty Bank, Realty, and Energy sectors are seeing a decline of up to 1 percent today. Nifty Smallcap 100 and Midcap 100 are also seeing a loss of 0.2 percent in early trade today.
Asian market also boomed
Most of the stock markets of Asia have opened on losses this morning and are trading on the red mark. A loss of 0.43 percent is seen on the Singapore Stock Exchange this morning, while Japan's Nikkei is trading at a loss of 0.58 percent. Hong Kong's stock market is also showing a decline of 0.51 percent and 0.08 percent in Taiwan's market. Apart from this, the Kospi market of South Korea is also trading at a loss of 1.01 percent.