By Admin 
Stock Market News: The increasing tension in the Middle East has badly affected the Indian stock market. There is an atmosphere of panic among investors amid the rise in crude oil prices and huge fall in the rupee. On the first trading day of the week, BSE’s 30-share Sensex fell by about 1900 points, while NSE’s Nifty 50 also fell below 22,500. However, by the evening the Sensex lost 1836 points and closed below 73,000. At the same time, Nifty also fell by 601 points and came below 22,600.
The continuously weakening rupee against the US dollar and sharp selling by foreign institutional investors (FIIs) have further increased the pressure on the market. On the other hand, now the price of one dollar has increased to Rs 93.99.
Why are the markets falling?
During trading at 12:28 pm, the Sensex had fallen by 1930 points to the level of 72,601, while the Nifty 50 also fell to 22,494. Due to heavy selling, the total market capitalization of BSE listed companies decreased by about Rs 13 lakh crore to Rs 416 lakh crore. Among the 30 Sensex companies, shares of InterGlobe Aviation, Titan, UltraTech Cement, Trent, Bharat Electronics and Adani Ports saw the biggest decline, while shares of HCL Tech, Tech Mahindra and Power Grid registered gains.
The effect of weakness was visible at the global level also. In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225, China’s SSE Composite and Hong Kong’s Hang Seng were in heavy decline, with the Kospi falling by about 6 percent. American markets also closed with a decline in the last trading session. Meanwhile, the price of Brent crude increased by 1.24 percent to $ 113.6 per barrel.
Investors alerted
According to market data, foreign institutional investors sold shares worth Rs 5,518.39 crore on Friday, while domestic institutional investors (DIIs) bought shares worth Rs 5,706.23 crore. So far this month, foreign investors have withdrawn about Rs 88,180 crore (about 9.6 billion dollars) from the Indian market, due to which there is pressure on the market.
Also read: On one hand, there is panic all over the world due to skyrocketing oil prices, on the other hand, China has ‘turned disaster into an opportunity’
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