Stock Market ends in the red; Sensex loses 500 points
The Indian stock market ended in the red on Tuesday, with the Nifty falling below the 23,900-mark and the Sensex dropping nearly 500 points.
The Indian stock market ended in the red on Tuesday, with the Nifty falling below the 23,900-mark and the Sensex dropping nearly 500 points.
The Indian Stock Market on Monday rallied sharply supported by a steep fall in crude oil prices.
The Indian equity markets posted mild gains early on Friday tracking positive global cues, over optimism regarding US-Iran peace negotiations.
The recent Gulf War has unsettled global energy markets, disrupted shipping routes, and shaken investor confidence.
Indian stock markets staged a sharp recovery to close in the green after falling as much as 1.3 per cent on an intraday basis.
Sensex closed 820 points, or 1.04%, higher at 79,705.91, while the Nifty 50 ended with a gain of 251 points, or 1.04%, at 24,367.50.
Among the sectors, auto, bank and oil & gas were down 0.5% each, while IT, metal, realty up 0.3-0.8%.
Nifty 50 plunged 824 points, falling below 24,000 for the first time since late June, while Sensex dropped by 2,686 points to an intra-day low of 78,295.
Things were rolling along fine for the markets until the FED meeting. Thursday, saw US markets fall as thoughts of an impending recession hit the markets overseas.
This week, the Nifty surpassed the 25,000 mark for the first time ever and Sensex broke the psychological 82,000 mark.
