Business

The stock market collapsed as soon as it opened, Sensex fell by 496 points, Nifty fell by 144 points

Mumbai: Amid weak global cues, major stock indices saw a decline in early trade on Wednesday. During this period, losses in big stocks like Infosys and Bajaj Finance on heavy selling by foreign funds put additional pressure on the market. The Sensex was trading at 56,860.84, down 495.77 points in early trade. NSE Nifty fell 144.15 points to 17,056.65. Bajaj Finance, Bajaj Finserv, UltraTech Cement, Infosys, Mahindra & Mahindra, Wipro, Maruti and Titan were among the major losers in the Sensex pack.

On the other hand, NTPC, Tata Steel, Reliance Industries, Sun Pharma, Power Grid and HDFC gained. Other Asian markets were trading with a mixed trend in the afternoon trades. Tokyo and Seoul fell more than one percent during this period, while Hong Kong and Shanghai gained marginally. Meanwhile, international oil standard Brent crude rose 0.5 percent to $105.42 per barrel. Foreign institutional investors sold shares worth Rs 1,174.05 crore on Tuesday, according to provisional data from the stock market.

Shivam Bangwal

Shivam Bangwal is an India-based Entrepreneur. He is the Founder of Successful Startups like Youthistaan, People News Chronicle, Hitchhike TV & Branding Panther. Shivam has done his Master's in Computer Applications.

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