Stock Markets continued the downward spiral on Wednesday like Tuesday. With new layoffs being announced, IT shares have dropped considerably down. Oil and Gas shares in Stock Markets traded in gains. Internationally, conditions have also been very volatile and hence traders looked to sell off than buying. By the end of the trading session of Stock Markets, BSE lost 159.21 points to close at 59,567.80 and Nifty lost 41.40 points to close at 17,618.75 mark.
BSE Sensex of Stock Markets started trading at 59,745.89 mark and then continued to trade between 59,452.72 to 59,745.89 range. Finally, BSE ended the trading session at 59,567.80 by losing 159.21 points. Nifty Sensex of Stock Markets started trading at 17,653.35 mark and it hit highest for the day at 17,666.15. Nifty hit the lowest at 17,579.85. The Sensex started low, continued to trade low and ended the session by losing 41.40 points on 17,618.75.
Indian Rupee traded at Rs.82.23 against US Dollar on Wednesday. Majority of Adani stocks have declined in value. Compounding to it, European Stock Markets have faced losses over 0.4% and it had effect on Indian traders too. Recession fears and layoffs have declined IT shares value too. Stock Markets would look at National companies performing better in coming days to recover.
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