The Indian stock market crashed at the opening today, driven by early trends from the Bihar election results and weak global cues. The NIFTY fell by close to 80 points, trading below 25,800, while the Sensex declined around 254 points to trade at 84,225. The Bank Nifty also dropped by 100 points.
Of the BSE’s top 30 stocks, 13 are trading higher. Shares like Asian Paints and Trent were the biggest gainers, while 17 are trading lower. Tata Motors Commercial Vehicles (TMCV) recorded a fall of more than 3%.
Current market trends show pressure in the IT, FMCG, and auto sectors, while PSU and private banks continue to demonstrate gains.
Reasons for Today’s Decline
Diminished expectations of a FED rate cut in December, along with sharp declines in Asian and US markets, are being reflected in the Indian stock market today. Additionally, trends from the Bihar Assembly election results are emerging, showing the NDA gaining a majority, although the RJD has put up a strong fight as well.
Stocks that saw Significant Declines
Sonata Software is reading down 5%, Tilaknagar Industries shares have also declined 5%. LG Electronics shares have falled 2.5%, ITI shares have also fallen 2%.
Shares that have showcased a Rise
At 9:50 AM, the BSE small-cap index saw a jump of 43 points, while the midcap and smallcap indices witnessed a rise of 100 points. Shares of Muthoot Finance jumped by more than 9% and shares of Jubilant Foodworks showcased a jump of around8%. Shares of BDL jumped by more than 5%.
Among small-cap shares, shares of ExpleoSolutions LTD rose by 16%, shares of Man Industries (India) by 14% and shares of Transformers and Rectifiers LTD touched the Upper circuit of 10%.
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The Indian stock market crashed at the opening today, driven by early trends from the Bihar election results and weak global cues. The NIFTY fell by close to 80 points, trading below 25,800, while the Sensex declined around 254 points to trade at 84,225. The Bank Nifty also dropped by 100 points.
Of the BSE’s top 30 stocks, 13 are trading higher. Shares like Asian Paints and Trent were the biggest gainers, while 17 are trading lower. Tata Motors Commercial Vehicles (TMCV) recorded a fall of more than 3%.
