oi – Ankur Singh
Mumbai, May 12. There is a continuous downtrend in the stock market. The market has lost more than 9 percent since the last one month. Today, where Nifty was placed below 16000, the Sensex went up to 53047 points. The Sensex opened at 53608 points, while the Nifty opened at 16021 points and reached 15848. Talking about 10.20 am, Nifty is trading at 15883 points, breaking 283 points, while it is trading at 53191 points. The direct effect of global weakness is being seen in the market, due to which heavy selling is continuing among the investors.
This period of decline in the market is not taking its name to stop. On April 12, where the Sensex reached its record high of 58576 points, a month later, the market has reached 53000. In such a situation, the market has seen a decline of more than 5300 points in the last one month. The increase in the bank rate by the Reserve Bank of India has also had a huge impact on the market. This decision of RBI to control inflation has proved costly to the market and investors are seeing heavy selling.
Nifty Bank, Nifty Auto, Nifty Financial Services, Nifty Metal, Nifty Private Bank lost more than two percent. While Nifty PSU Bank has registered a fall of more than 3 per cent. The way the Sensex has seen a fall of more than 900 points, after that the concern of investors in the market has increased a lot. In fact, it is believed that the RBI may increase the interest rates further in the coming few days, due to which the market is seeing further decline.