new Delhi. The Indian stock market made a weak start on Thursday and started trading on a big decline as soon as the Sensex-Nifty opened. The huge jump in the prices of crude oil and the pressure of the global market is clearly visible today.
The Sensex opened trading at 57,190 with a loss of 495 points in the morning, while the Nifty opened at 17,095 with a loss of 151 points. Due to the dominance of profit-booking on the investors, the market continued to move towards a decline. At 9.24 am, the Sensex fell by 271 points to 57,413, while the Nifty was down 70 points to trade at 17,202.
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The fall in these shares was seen
Investors today distanced themselves from banking and finance stocks. While there is strong buying in stocks like ONGC, Coal India, Hindalco Industries, JSW Steel and Tata Steel, Kotak Mahindra Bank, ICICI Bank, Hero MotoCorp, Bajaj Finance and Asian Paints are selling heavily.
Market broken even in pre-opening
The Indian stock market also saw a decline in the pre-opening session due to global cues. At 9.01 am, the Sensex was trading at 57,360.02, down 324.80 points, or 0.56 per cent, while the Nifty was down 160.20 points, or 0.93 per cent, at the level of 17,085.50. Its effect was shown on the sentiments of the investors when the market opened.
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Expensive crude scorched investors
Brent crude has once again gained momentum. Brent crude rose 4.5 percent to $ 120.64 per barrel in the global market after oil exports from Russia-Kazakhstan’s pipeline were disrupted. US oil WTI has also climbed 4.4 per cent to $114.10 per barrel. Its effect is visible on the stock markets around the world.
Tags: Crude oil prices, Sensex, Share market
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