The sluggishness in the Indian stock market continues on the second trading day of the new financial year. The Sensex fell more than 450 points to 27,800 points below 28 thousand in early trade. Talking about the Nifty, it was trading 130 points down below the 8100 marks. Meanwhile, the Indian rupee fell 48 paise to close at 76.08 against the US dollar during early trade on Friday. Hero MotoCorp, IDFC Bank, IndusInd Bank, Kotak Mahindra Bank, ICICI Bank, HDFC Bank, and Asian Paints are the top losers in early trade. As per the analysts, the stock markets in India could see choppy trade until there is clarity on the situation after the lockdown ends on April 14.
Sluggish start of stock market: Sensex breaks over 400 points
Earlier, the stock market remained closed on Thursday because of Ramnavmi and there was no business in other markets including the stock market and commodity. There will be no trading in the stock market on 6, 10 and 14 April of this month as there will be holiday due to Mahavir Jayanti on 6 April, Good Friday on 10 April and Dr. Bhimrao Ambedkar Jayanti on 14 April.
After Tuesday’s rally, the 30-share Sensex closed 1,203.18 points, or 4.08 percent, at 28,265.31 points on Wednesday. Similarly, the National Stock Exchange’s Nifty dipped 343.95 points, or 4 percent, to close at 8,253.80. It was the first day of the new financial year.
Meanwhile, Dow Jones, the leading index of the US stock market, saw recovery and rose by 469.93 (2.24%) points to 21,413.44 points on the previous trading day. At the same time, the Dow Jones fell about 4 percent a day ago and it had reached the level of 20 thousand.
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