Sensex opens down 50 points as pressure on Indian market continues

May 25, 2023 Business 210 Views

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There is a continuous decline in the Indian market. In which the market was closed in the red mark on Wednesday also, the effect of which has been seen with the opening of the market today. Sensex opened down 50 points today while Nifty also opened at 18,268 points.

Today, on the day of May expiry, mixed signals are being received from the global market. Work in Asia is mixed. SGX Nifty is also trading with a decline. US markets fell 1.5 per cent yesterday after Fitch warned of a credit rating downgrade. Meanwhile, LIC’s results for the fourth quarter have been weak. The effect of all these has been seen on the Indian market. The Nifty is almost certain not to close below 17,915. Nifty closed at this level in the April series. This will be the first time since October-November last year that the Nifty has closed with gains in two consecutive expiry.

This is how today started

Even before the start of today’s trading, there were signs of continuing pressure in the domestic stock market. In Singapore, NSE Nifty futures SGX Nifty was trading marginally lower by 0.07 per cent in the morning, suggesting that the local market may start today on a flat note or may fall further as the market opens.

When the market opened at 09:15 am, the BSE’s 30-share index Sensex remained in loss. In early trade, it was trading close to 61,750 points, down by about 30 points. The Nifty was trading close to 18,275 after falling nearly 15 points. However, both the indices recovered within minutes of the start of trading. At 09:20 am, both the indices were trading in the green zone with slight gains.

trend in global markets

There is a mixed trend in the global markets. US stock markets declined on Wednesday. The Dow Jones Industrial Average was down 0.77 percent, the S&P 500 was down 0.73 percent, while the tech-focused Nasdaq Composite Index was down 0.61 percent. Asian markets are showing mixed results in today’s trade. Japan’s Nikkei is up 0.55 percent, while the Topix index is down 0.30 percent. Hong Kong’s Hang Seng lost about 1.60 percent. South Korea’s Kospi is trading with a slight uptick