Stock Markets once again had a very disappointing session on 7th May. Investors started the session on a positive note with huge highs. International Stock Markets have ended with gains but that did not reflect in investors’ actions. Big Stocks like Reliance, HDFC and ICICI bank shares have propelled this session’s crash. Well, BSE lost 383.69 points to close at 73,511.85 and Nifty lost 140.20 points to close at 22,302.50 mark.
BSE Sensex started trading at 73,973.30 and then continued to trade between 74,026.80 – 73,259.26. Index started higher than previous closing and in the first hour reached over 74,000 mark. At the highs, big stocks flunked as investors kept selling off major number of holds and at one time it lost 600 points. With slight recovery, BSE ended the trading session at 73,511.85 by losing 383.69 points.
Nifty Sensex started trading at 22,489.75 mark and it hit its highest for the day at 22,499.05. Nifty50 hit the lowest at 22,232.05. Investors did not show much faith in investing in big stocks and started selling off their holds from the first hour till the end. With huge lows and slight recovery towards end, Nifty50 ended the session by losing 140.20 points on 22,302.50.
Indian Rupee traded at Rs.83.49 against US Dollar on 07th May 2024. Power grid Corporation, IndusInd Bank, Tata Motors, JSW Steel, HCL Technologies have ended up being Top Losers. Hindustan Unilever, Tech Mahindra, Nestle India, TCS, ITC shares have ended as Top Gainers. Stock Markets could go through this low phase till elections are over with major investors being circumspect.
Nikhil to shoot an epic sequence with huge budget for Swayambhu