share market opening, stock market crash; Sensex falls by 167 points at the beginning of the week – share market opening today sensex slips 165 points, nifty holds above 17,150; tata elxsi tanks 7 percent
The fall in the US market last week is reflected in the Asian stock markets today. Indian stock markets opened in the red on the first day of the week. Inflation in the US market and fears of an interest rate hike by the Federal Reserve were seen to deepen.
Beginning of the market
BSE’s 30-share index Sensex opened down 167.47 points, or 0.29 per cent, at 57,752.50 today. On the other hand, NSE’s 50-share index Nifty opened down 40.90 points, or 0.24 per cent, at 17,144.
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Weak signals from global markets
On the other hand, there were weak signals from global markets. Last week on Friday, the American market saw a big fall. Fears of inflation and interest rate hikes by the Federal Reserve loomed large. The US market closed down 3 percent on Friday, the last trading day of the week. The Dow Jones fell 404 points to 29,635, while the Nasdaq closed down 327 points to 10,321. The S&P 500 fell 2.37 percent.
A report showed that US consumers expect inflation to remain high, giving markets another signal that the Fed may need to continue its aggressive stance on interest rates. An aggressive stance by the Fed Reserve increases the risk of recession.
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Which shares fell
JSW Steel, Apollo Hospitals, Adani Enterprises, Tata Steel and Reliance Industries are among the top losers on the NSE platform today. These shares have fallen as much as 1.56 percent. On the other hand, shares of Bajaj Auto, Axis Bank, Eicher Motors, Infosys and IndusInd Bank rose. Mid and small cap stocks saw a negative trend.
