Stock Market Falls Again, Sensex down 272 points, Nifty below 24000.
Amid mixed signals from the global market, Indian stock markets had a weak start for the second consecutive day. Benchmark indices, Sensex and Nifty, began trading in red. In early trading, the 30-share BSE Sensex opened at 78,510.61, down by 271.63 points or 0.34 per cent. Meanwhile, the NSE Nifty was trading at 23,909.60, down by 85.75 points or 0.36 per cent. Gift Nifty was trading around the 24,065 level, indicating a drop of about 50 points from the previous close of Nifty futures. This suggests a negative start for Indian stock market indices. Ahead of U.S. presidential election results and the Federal Reserve’s interest rate decision this week, U.S. stock markets closed with declines last night. On Wall Street, the S&P 500 and Dow Jones Industrial Average fell by 0.28% and 0.61%, respectively, while Nasdaq Composite dropped by 0.33%. The Nikkei was up by 137 points or 0.32% at 38,137, while Kospi was down by 19 points or 0.76% at 2,570. In the previous trading session on Monday, the benchmark index fell by nearly 2% during trading due to uncertainty over the U.S. presidential election results, selling by foreign institutional investors, and disappointing company results. However, it later recovered about half of its losses. In morning trading, the Sensex fell by 1.9% to reach 78,233, but by the end of trading, it closed at 78,782, down 942 points or 1.2%. The Nifty also dipped about 488 points before recovering slightly, closing down 309 points at 23,995. This marks the largest decline for both indices since October 3.
