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.
The latest upward trajectory is bolstered by gains in the banking sector, with private banks witnessing a rebound from a recent sharp correction.
Over the past eightsessions, Nifty has retraced only 61 per cent of preceding seven sessions, highlighting a robust price structure.
Nifty slumped to 21,530.20 but rebounded to end the day 97 points, or 0.44%, higher at 21,840.
Sensex and Nifty rose 0.6% each to 71,555 and 21,743, respectively. Broader markets, too, saw some respite after undergoing selling pressure as Nifty Midcap 100 and Nifty Smallcap 100 indices rose up to 0.3%.
At close, the Sensex was down 523 points or 0.73 per cent at 71,072.49, and the Nifty was down 166.50 points or 0.76 per cent at 21,616.
