Share Market Today on May 8: The domestic stock market opened in the red on Friday, the last trading day of the week. On one hand, BSE’s 30-share sensitive index Sensex opened with a fall of 212 points at the level of 77631. At the same time, NSE’s Nifty started trading at the level of 24233 with a loss of 93 points. There is a decline in shares like Coal India, Mahindra & Mahindra, Axis Bank in early trade.

Why did the stock market fall?

• Due to firing and increasing tension on the Strait of Hormuz between America and Iran, investors were shocked, which had an impact on the market.
• Due to the fear of further increase in tension between the two countries, Brent crude crossed $ 101 per barrel, which is bad news for the Indian economy dependent on oil imports.
• The effect of the decline in the global market is also being seen on Dalal Street today.

Asian market

Today on the morning of May 8, huge fluctuations and selling pressure were seen in Asian markets. The increasing tension between America and Iran and the news of firing in the Strait of Hormuz have again put investors in trouble.

Due to this, South Korea’s Kospi fell by 1.88 percent today. However, small-cap Kosdaq managed to rise 0.56 percent. Japan’s Nikkei 225 slipped 0.62 percent due to some profit-booking after reaching a record high level on Thursday. Hong Kong’s Hang Seng index futures were at 26285, which is lower than the previous closing level of 26626.28.

American stock market

American stock markets closed with a decline on Thursday. Due to the firing between Iran and America on the Strait of Hormuz and Brent crude again crossing 102 per dollar, investors started fearing rising inflation.

The result of all these things is that on Thursday the S&P 500 index fell 0.38 percent and closed at 7337.11. Nasdaq Composite also closed with a decline of 0.13 percent at 25806.20. The Dow Jones Industrial Average fell 313.62 points or 0.63 percent and settled at 49,596.97.

crude oil

West Texas Intermediate (WTI) crude futures were up 2.06 percent today at $ 96.76 per barrel. At the same time, Brent crude futures were trading 2.27 percent higher at $ 102.33 per barrel this morning. Crude oil prices on COMEX increased by 2.13 percent to $ 96.83 per barrel.

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