Stock market witnessed significant volatility on the first trading day of the week. Despite opening on a green note on Monday, benchmark indices closed lower. The Sensex fell 508.40 points, or 0.67%, to close at 74,267.34. The Nifty, on the other hand, slipped 165.16 points (-0.70%) to 23,382.60. The rupee fell 12 paise to close at 94.97 (provisional) against the dollar.
Stocks like HUL and Shriram Finance fell by around three percent during Monday’s trading session. On the first trading day of the week, 2,201 stocks listed on the NSE closed with losses, while 1,151 stocks advanced. Ninety-nine stocks remained unchanged.
Why is market continuing to decline?
The domestic stock market’s weakness on Monday was primarily due to daily updates on the ongoing conflict between the United States and Iran. These updates impact global crude oil prices and influence investor sentiment. Continued selling by foreign institutional investors and rising bond yields also contributed to the market sentiment.
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Edited by: Bhoomi Goyal
