5 Reasons Why Sensex And Nifty Fell Over 1% Today

Indian share markets witnessed heavy selling pressure today, pausing the record rally, with all sectors barring telecom, reeling under pressure.

Benchmark indices fell tracking weak Asian markets despite the announcement of a US$ 1.9 trillion stimulus package proposal from US President-elect Joe Biden.

At the closing bell, the BSE Sensex stood lower by 549 points. Meanwhile, the NSE Nifty ended down by 162 points.

Tech Mahindra and HCL Tech were among the top losers today. HDFC Bank's share price was in focus today, ahead of its December quarter earnings on Saturday.

SGX Nifty was trading at 14,460, down by 168 points, at the time of writing.

The BSE Mid Cap index ended down by 1.3%, and the BSE Small Cap index ended down by 1.1%.

On the sectoral front, IT stocks, realty stocks, and oil & gas stocks were among the hardest hit.

Asian stock markets ended on a mixed note. As of the most recent closing prices, the Hang Seng was up 0.4% and the Shanghai Composite ended flat. The Nikkei ended down by 0.6%.

US stock futures are trading lower today indicating a negative start for Wall Street indices.

Nasdaq Futures are trading down by 22 points (down 0.1%), while Dow Futures are trading down by 83 points (down 0.3%).

The rupee is trading at 73.09 against the US$.

Gold prices are trading up by 0.2% at Rs 49,289 per 10 grams.

Here are the Top 5 Factors Why Indian Stock Markets Plunged Today

Weak Global Cues: Asian share markets stumbled lower in afternoon trade, reversing earlier gains as rising COVID-19 cases in China reinforced investor concerns over the prospects for a global economic recovery. Japan's Nikkei snapped a five-session rally, slipping from a more than 30-year high hit in the previous session.

European stocks are trading on a cautious note as the prospect of tighter lockdowns in Germany and France as well as new COVID-19 restrictions in China cut into optimism about a global economic recovery.

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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