The price fall in the foreign market has affected the domestic market. All sector indices were in losses, while the India Vix, an index showing uncertainty, rose 4 percent.
Stock markets fall in early trade
The Sensex fell over 600 points in early trade on Friday due to weak trends in global stock markets and foreign capital outflows. A slowdown in the global economy and fears of foreign capital outflows have affected market sentiment among investors. Meanwhile, the BSE Sensex, based on 30 stocks, fell over 600 points to 59,155 points in early trade. At the same time, the NSE Nifty fell over 200 points to 17,642. Mahindra & Mahindra, Tech Mahindra, TCS, Wipro, HDFC, Infosys, Axis Bank, HCL Technologies and Power Grid were the first Sensex losers, while IndusInd Bank, Bajaj Finance, Sun Pharma and Asian Paints gained.
How was the performance of the sector?
The market saw sales everywhere today. All sector indices are trading in the red. Indices in the IT, media and oil and gas sectors were trading down more than 1 percent. The IT sector index lost about 2 percent. The continued rise in inflation abroad and the Fed’s tightening stance have raised fears that foreign companies may now cut costs to cut costs, which is expected to put pressure on the IT sector. On the other hand, in the broad market, the largest losses are seen in large caps. At the same time, the volatility index rose more than 4 percent, spooking investors.
How other signals affected the market
Among other Asian markets, markets in Seoul, Tokyo, Shanghai and Hong Kong were trading in losses. US markets also closed with losses on Thursday. In the previous trading session, the 30-share BSE Sensex closed down 412.96 points, or 0.68 percent, at 59,934.01 on Thursday. Similarly, the National Stock Exchange’s Nifty also closed down 126.35 points, or 0.7 percent, at 17,877.40. Meanwhile, Brent crude, the international standard, rose 0.18 percent to $91 a barrel. Foreign institutional investors (FIIs) sold shares worth Rs 1,270.68 crore on Thursday, according to provisional stock market data.