Today, on the third day of the week, the stock market started on the red mark on Wednesday. The BSE Sensex is trading at 48,848.04, dropping 313.77 points. At the same time, the Nifty is trading at a level of 14,770, falling 80 points.
Yesterday, the rally in the stock market continued from the last four trading sessions and came to an end on Tuesday and the Sensex closed down by 341 points. The market came down as stocks of companies with strong stakes in indices like HDFC Bank, HDFC, Kotak Bank and TCS fell. The 30-share BSE Sensex lost 340.60 points, or 0.69 percent, to end at 49,161.81 points. The National Stock Exchange’s Nifty also lost 91.60 points, or 0.61 percent, to close at 14,850.75 points.
According to Vinod Modi, strategy head, Reliance Securities, the benchmark indices came down on weak trend in global markets and selling pressure. He said, after the rapid rise in commodity prices in various countries, there was a decline in Asian markets amid concerns about rising inflation. Apart from this, the inflation data in China is also affecting the perception.
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