New Delhi: The Indian stock market crashed as soon as it opened today i.e. on 7 April. In the pre-open trade, the Sensex fell by more than 3,900 points to around 71,449, while the Nifty fell by more than 1,100 points and slipped below 21,758. In this way, both Sensex and Nifty have fallen by more than 5 percent.
In early trade at 9.15 am, the Sensex was trading at 72,724.74, down 2,639.95 points or 3.50 percent, and the Nifty was trading at 22,035.35, down 869.10 points or 3.79 percent.
Trent, Tata Steel, JSW Steel, Tata Motors and ONGC were among the top losers on the Nifty. All sectoral indices are trading in the red, with IT and Metal down 7-7 percent. BSE Midcap and Smallcap indexes are down by 6-6 percent.
The reason for this decline is believed to be the ongoing decline in the global market and US President Trump’s tariff policy, which has increased the anxiety among investors around the world. Earlier, markets like Japan, Hong Kong and Australia also witnessed a sharp decline, which clearly shows that the concern of trade war is now shaking the whole world.
The stock market closed in the red in Friday’s trading session. Due to all-round selling in the market, the Sensex fell by 930 points or 1.22 percent to 75,364 and the Nifty was down by 345 points or 1.49 percent to 22,904.
Last week, the BSE Sensex of 30 shares fell by 2,050.23 points or 2.64 percent. On the other hand, the National Stock Exchange’s Nifty was down by 614.8 points or 2.61 percent. During the past week, the market capitalization of nine of the top 10 Sensex companies collectively declined by Rs 2,94,170.16 crore.
According to stock market data, foreign institutional investors (FIIs) were net sellers in the capital market. They sold shares worth Rs 3,483.98 crore on Friday.