There is a global pressure on the Market today. Markets arround the world are battling recession. The domestic Market was closing profitably for 3 days. Before a day earlier Sensex closed 460.06 points and Nifty 142.05 points higher.
- 3 Consecutive days of boom ended.
- Market fears interest rate hike in US.
SGX Nifty's fall above 1 percent was indicating that the domestic market may remain in loss thatday. The BSE Sensex was down about 480 points in the pre-open session. As soon as the market opened, the Sensex fell more than 636 points to fall below 58,300 points. Similarly, the NSE Nifty fell by about 200 points and came near 17,400 points.
Huge losses for IT Companies-
The three companies that suffered the most in the sensex companies were from the IT sector.
- Tech Mahindra suffered the maximum loss of 2.94%.
- Infosys lost 2.71%.
- HCL Tech lost 2.31%.
- TCS lost more than 2%.
- Wipro lost more than 2%.
People are not able to believe on Zomato :-
Indian food delivery Company Zomato, which recently entered the Stock market, continues suffer. Even though the company's losses have come down significantly in the december quarter, but investor are still not able to believe this stock. The company has made a loss of only Rs 67 crore in the december quarter. However, the reason for this is Rs 315.8 crore received from selling stake in Fitso. After the results came, as soon as the market opened on friday, people started selling this stock. Due to this the stock fell more than 9% at one time to Rs 85.85 on BSE.
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Right information 👍
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