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- Weak start amid heavy selling in global market
- Sensex down 120 points, Nifty opened with a weakness of 50 points
Sensex is trading below 52,300, Nifty remains close to 15,650. There is an all-round sell-off in the stock market. There is also weakness in the index of small and medium stocks. Except FMCG, all sector indices have declined. The biggest selling pressure is falling on banking and financial services stocks. The Nifty Bank and Financial Services index is down nearly one per cent.
The fear of a new lockdown due to the delta variant of Kovid is weighing heavily on the markets around the world. On Tuesday too, the domestic stock also had a weak start amid heavy selling in the global markets. The BSE Sensex opened with a loss of 120 points at 52,432. NSE Nifty also gave a weak opening of 50 points. This 50-share index of NSE opened at 15,703.
On Monday, the Sensex closed at 52,553.40, down 586.66 points, or 1.10%. The Nifty was at 15,752.40 points with a weakness of 171.00 points (1.07%). The market had given a gap of 534 points on Monday amid weakness trends in foreign markets. NSE Nifty also gave a weak start of 169 points.
Selling trend in Asia
Even today there is a downward trend in the Asian markets. Japan’s Nikkei and China’s Shanghai Composite are down nearly half a per cent. Hong Kong’s Hang Seng is trading with a weakness of around 0.70%. Korea’s Kospi is down about 0.40%. Australia’s All Ordinary has a weakness of around 0.20%.
Huge fall in America and Europe
There was heavy selling in the US markets on Monday. The Dow Jones closed down 2.09%. Nasdaq closed with a loss of 1.06%. The S&P 500 lost 1.58%. European markets were also not spared from the brunt of the fall. Britain’s FTSE fell 2.34%. France’s CAC weakened 2.54% while Germany’s DAX lost 2.62%.
FII and DII data
According to provisional data available on the NSE, on Friday, July 19, foreign institutional investors (FIIs) sold shares worth a net Rs 2,198 crore. That is, the shares worth more rupees were sold than the amount of shares bought. Domestic Institutional Investors (DIIs) had yesterday bought shares worth a net Rs 1047 crore.
9.30 am Amidst the weak trend in the stock market, 12 stocks of the Sensex are strong.