Huge fall in the stock market, Sensex fell 1000 points
Inflation figures for August in the US have come. Inflation in the world’s largest economy grew faster than expected in August. Due to this, there was a huge fall in the US stock markets on Tuesday. Its impact was also seen in India and other markets of the world.
At 10 am, the Sensex was trading at 59,939.49, down 631.59 points, or 10.4 per cent. Nifty was trading at 17893.25, down 176.80 points or 0.98 per cent. Broader markets are also showing a decline. Nifty Smallcap 100 and Nifty Midcap 100 have lost more than one per cent. All the sectors are trading with a downside. Nifty IT, Nifty Realty, Nifty Metal indices are seeing the most selling pressure. Tech Mahindra, TCS, Wipro and Infosys were the biggest losers.
Tuesday was fast
Earlier, the trend of bullishness in the stock markets continued for the fourth consecutive trading session on Tuesday. On Tuesday, the 30-share BSE Sensex closed at 60,571.08, up 455.95 points, or 0.76 per cent. The Nifty of the National Stock Exchange (NSE) climbed over 133 points to close above the 18,000 mark for the first time since April 4. Continued buying by foreign institutional investors and rise in global markets registered gains in the domestic stock market.
