The Indian stock markets kept on falling on the morning of Monday, the 9th of October, mainly due to the bad performance of the global market, worries over the tariffs imposed by the U.S., and the steep decrease of the rupee against the dollar. The continuous selling of shares in the IT and metal sectors caused the market to dip more.
The Sensex started more than 150 points down from its last closing at 83,576 and went lower during the morning trading. It even dropped by over 500 points at one stage. At 10:15 am, the Sensex was at 83,138 and down 437 points.
Although the Nifty index performed in the same way as the Sensex, it closed the day with a decline of 126 points in its value to 25556.
Sales were heavy in the mid-cap segment as well, and the Nifty Midcap Index dropped by 352 points. The Bank Nifty index was down by 183 points as it showed the weakness of banking stocks.
In currency trading, the rupee depreciation continued and the currency was quoted at 90.24 per U.S. dollar, which further intensified the pressure on the stock markets.
Among the companies that saw an increase in the stock price on the Sensex were Manappuram Finance, Indian Renewable Energy, BSE Limited, Hindustan Zinc, and Coal India. On the contrary, Hitachi Energy, BHEL, Divi’s Laboratories, Tube Investments, and Laurus Labs were listed as the major losers.
Market sentiment is generally negative as investors are reacting to global uncertainty, currency depreciation, and selling pressure in specific sectors.
