Stock market crash today: Indian stock market indices BSE Sensex and Nifty50 crashed in trade on Tuesday as well, a third straight day of decline, following the trend of Asian markets. The decline was attributed to expectations of a potential delay in U.S. interest rate cuts and ongoing geopolitical tensions in the Middle East, which heightened investor concerns.
The BSE Sensex dropped by 608 points, trading at 72,801, while the Nifty50 fell by 162 points to 22,110 around 1.07 pm. Major laggards on the Sensex included NTPC, Bajaj Finance, Infosys, Axis Bank, and TCS, while Nestle India, Titan, M&M, and Bharti Airtel managed to trade higher.
Jio Financial Services saw a 5% increase after announcing a new joint venture with BlackRock Inc, a U.S.-based company, to establish a wealth management and broking business in India.
According to an ET report, sector-wise, Nifty IT and Nifty Bank experienced declines of 0.9% and 0.8%, respectively. On the other hand, Nifty Auto, Media, Metal, Consumer Goods, and Oil & Gas started the day positively. In the broader markets, Nifty Smallcap100 rose by 0.5%, while Nifty Midcap100 had a flat opening.
Market experts shared their insights on the factors influencing the market. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, highlighted two key issues: the economic factor of rising U.S. bond yields, which reduces the likelihood of Fed rate cuts this year, and the geopolitical concern surrounding Israel’s potential response to Iran’s attack.
Deepak Jasani of HDFC Securities noted that the short-term trend of Nifty turned bearish, with support seen in the range of 22110-22150 and resistance at 22417 and 22600.
Global markets also experienced a downturn, with Asian markets opening lower following a lower close on Wall Street. The decline was attributed to stronger-than-expected U.S. retail sales data, which dampened expectations of an early Federal Reserve rate cut. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.76% to a nearly two-month low, while Japan’s Nikkei dropped 1.9%.
Foreign institutional investors (FIIs) were net sellers, offloading shares worth Rs 3,268 crore, while domestic institutional investors (DIIs) purchased stocks worth Rs 4,762.93 crore on April 15. DIIs have been net buyers for five consecutive sessions.
Oil prices rose on Tuesday amid heightened tensions in the Middle East following Israel’s military chief’s statement regarding a response to Iran’s weekend missile and drone attack. Brent futures for June delivery increased by 46 cents, or 0.5%, to $90.56 a barrel, while U.S. crude futures for May delivery rose by 43 cents, or 0.5%, to $85.84 a barrel.
The Indian rupee weakened by 8 paise against the US dollar, trading at 83.52 in early trade. The dollar index, which measures the greenback’s performance against six major world currencies, rose 0.13% to 106.34.
The BSE Sensex dropped by 608 points, trading at 72,801, while the Nifty50 fell by 162 points to 22,110 around 1.07 pm. Major laggards on the Sensex included NTPC, Bajaj Finance, Infosys, Axis Bank, and TCS, while Nestle India, Titan, M&M, and Bharti Airtel managed to trade higher.
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Jio Financial Services saw a 5% increase after announcing a new joint venture with BlackRock Inc, a U.S.-based company, to establish a wealth management and broking business in India.
According to an ET report, sector-wise, Nifty IT and Nifty Bank experienced declines of 0.9% and 0.8%, respectively. On the other hand, Nifty Auto, Media, Metal, Consumer Goods, and Oil & Gas started the day positively. In the broader markets, Nifty Smallcap100 rose by 0.5%, while Nifty Midcap100 had a flat opening.
Market experts shared their insights on the factors influencing the market. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, highlighted two key issues: the economic factor of rising U.S. bond yields, which reduces the likelihood of Fed rate cuts this year, and the geopolitical concern surrounding Israel’s potential response to Iran’s attack.
Deepak Jasani of HDFC Securities noted that the short-term trend of Nifty turned bearish, with support seen in the range of 22110-22150 and resistance at 22417 and 22600.
Global markets also experienced a downturn, with Asian markets opening lower following a lower close on Wall Street. The decline was attributed to stronger-than-expected U.S. retail sales data, which dampened expectations of an early Federal Reserve rate cut. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.76% to a nearly two-month low, while Japan’s Nikkei dropped 1.9%.
Expand
Oil prices rose on Tuesday amid heightened tensions in the Middle East following Israel’s military chief’s statement regarding a response to Iran’s weekend missile and drone attack. Brent futures for June delivery increased by 46 cents, or 0.5%, to $90.56 a barrel, while U.S. crude futures for May delivery rose by 43 cents, or 0.5%, to $85.84 a barrel.
The Indian rupee weakened by 8 paise against the US dollar, trading at 83.52 in early trade. The dollar index, which measures the greenback’s performance against six major world currencies, rose 0.13% to 106.34.
