Why is share market down today?
India Today
BSE Sensex fell 1.15 per cent or 642.73 points to 55,032.59. The NSE Nifty 50 index was down 1.06 per cent or 175.20 points at 16,394.35.
Key equities in share markets dropped more than 1 per cent on Tuesday ahead of a possible rate decision from the country's central bank, while global investors awaited US inflation data and key rate decisions in Europe.
While the S&P BSE Sensex fell 1.15 per cent or 642.73 points to 55,032.59. The NSE Nifty 50 index was down 1.06 per cent or 175.20 points at 16,394.35.
On Tuesday, stocks across the board tumbled with banks, autos and pharma stocks falling more than 1 per cent each.
Beaten down technology stocks dropped 1.8 per cent and the sub-index is already down roughly 24 per cent so far this year.
Financial services platform PB Fintech fell 8.3 per cent after it said the firm's chief executive intends to sell 3.8 million shares via bulk deals on the stock exchange.
Consumer stocks extended losses for a third straight session, slipping 1.7 per cent to a near two-week low.
Among the few gainers, energy stocks advanced with the Nifty Energy index rising 1 per cent led by a 4.8 per cent jump in Oil and Natural Gas Corp.
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Sensex has declined over 6,000 points or roughly 7.5% in a little over two weeks as global tensions and rising oil prices triggered selling in equities.
Speaking in Parliament, Union Petroleum and Natural Gas Minister Hardeep Singh Puri said India has adequate fuel stocks, and there is no cause for concern over availability.
Industry sources told India Today TV that airline operators are now paying additional insurance charges for every aircraft flying into the Middle East, significantly increasing the cost of operations on these routes.
Under law, a domestic household is generally allowed to keep two LPG cylinders of 14.2 kg each at a time. This usually includes one cylinder connected for use and another spare cylinder kept as backup.
Early signals from GIFT Nifty suggest that the benchmark indices could open lower when trading begins. GIFT Nifty futures were trading at 23,784.50 at around 7:58 am. This indicates that the Nifty 50 may open below Wednesday's closing level of 23,866.85.
When markets fall sharply, fear often takes over investing decisions. But did you know continuing SIPs during market crashes has historically rewarded disciplined investors?