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.
Nifty 50 closed the day with a loss of 270 points, or 1.09%, at 24,530.90, while the Sensex ended at 80,604.65, down 739 points, or 0.91%.
Nifty 50 settled at a fresh closing high of 24,502.15, having jumped 186 points, or 0.77%. Sensex settled at its fresh closing high of 80,519.34 with a gain of 622 points, or 0.78%. Nifty 50 hit a fresh all-time high of 24,592.20, while the Sensex reached 80,893.51 during the session.
The market was influenced by price cuts from a major automaker and anticipation surrounding the upcoming earnings season.
Several automobile stocks, including Maruti Suzuki and Mahindra and Mahindra (M&M), clocked healthy gains.
As the Indian stock market keeps touching new highs amid a record bull run, over 42.4 lakh new demat accounts were opened in the month of June, the highest account opening rate since February.
