Market drop, Sensex down 300 points
Market drop, Sensex down 300 pointsGlobal signals for market are weakness. There is pressure on the Asian market due to which the AGX has gone below the Nifty 10750. The US markets were closed yesterday in the tribute to former President George Bush. On the other hand, today's key meeting of OPEC and Russia will be on crude. Decision on production reduction in the meeting is possible. At present, there is pressure on crude oil prices before the OPEC meeting. Between this poor globus signals, Indian markets have started with a lot of weakness today.
Sensex and Nifty are seeing decline in early trading. Sensex is near 35590 and Nifty is closer to 10690. Today, there is a weakness in the mid-and small-caps shares, with giant stocks. BSE's Midcap Index is trading around 14815 with a weakness of 0.6%. At the same time, the BSE's Smallcap index is falling by 0.4% to around 14,275.
In today's trade, the pressure of selling of banking shares has been strained, which led to the bank nifty of 0.62% with weakness at 26355. The market is getting all-round decline today. In today's business, oil and gas stocks are also seen selling, due to which BSE's oil and gas index is trading with around 1% weakness.
Metal, FMCG, auto and realty stocks are seeing huge sales today. Nifty's metal index is trading 1.8%, the Realty Index is nearly 1%, the FMCG Index is 0.8% and the Auto Index is down 0.75%.